That limited the price range we could buy in.2.  

(others $100k range) My gut offer was $80-90k....Do I deduct $$$ due to mortage owed?

I got inspired to become a real estate investor after reading a book from a powerful man in history.

Yes, looking for deals in 1mm to 2.5mm range.

It's a 30-year fixed loan around the 6% range. 25% down, and min FICO of 620.

@Syed LateefWhat is your price range?

The Zillow zestimate is $1018 with the upper range at $1200. 

I know HOA's have a lot of power on choosing what they enforce and let pass, as well as what rules they adopt, but it still makes me uneasy, as I could and up sitting on a house that I have to sell with high transaction costs if they adopt such a ban or cap.

Mortgage terms range from 6-months to 7-10 years (7 & 10 year mortgages are fairly recent and not frequently used as they come at a premium) with the most common term being 5-years.   

It's rather pointless trying to lead the blind if you are not a visionary (sorry).Until a property has a principal or someone with standing (capacity, powers and authority) to sell, encumber or oasis marketable title, it's pointless to plan too far ahead.