I ask because in order to support myself I do "bird-dogging" on the side.

Most people these days have a dog(s).

I look for partner splits, health issues, divorce, owner wants to retire, owner needs to focus attention on larger properties they own not doing well, death, etc.The business is established a long time and the good price is coming from the sellers need and NOT that the business isn't sound or it's taking a dive.

I bought my duplex a few years (and still live there with my three high energy dogs) and have accumulated half a dozen units with my family aside from that. 

With crowd funding, each investor is small and therefore this reduces the over the should factor you might get with a larger investor or HML.On the downside to crowd funding, it is a lot of work to do it right. 

This is leading me to think possible larger issues with the home, like foundation.

Don't be afraid to start small and build experience toward larger projects.

Working through your own foreclosure cycle, etc.So in states where the foreclosure process is longer or the advance demands are greater, the amounts included on top of the unpaid principal balance will be larger than simply the unpaid balance of the first lien.  

Once you pay it, you demonstrate to the bank your ability to settle debt...you are building a relationship with a bank and can take out larger and larger loans with better interest rates to invest.

There are plenty of folks who stay away from condos because of the lack of direct control due to the HOA but if it's a larger complex with stable management and a businesslike approach to capex and maintenance I think you could do fine.