I live in the Western suburbs, but our duplex is in Saint Paul and I have done transactions many places in between!

If you do seek checkbook control via an IRA LLC or a Solo 401k, then the custodian is removed from the day to day transactions and ongoing fees are typically lower.

Neither the other co-owners, nor the sponsor, nor the manager may advance funds to a co-owner to meet expenses associated with the co-ownership interest unless the advance is recourse to the co-owner (and, where the co-owner is a disregarded entity, the owner of the co-owner) and is not for a period exceeding 31 days.The co-owners must share in any indebtedness secured by a blanket lien in proportion to their undivided interests.Distinguishing a Partnership From Co-Owners of Leased PropertyIn the case of property to be purchased by more than one equity investor and subjected to a long-term triple net lease, it may be possible for each equity investor to structure its participation as a purchase and lease of an undivided interest in the property, separate from the other equity investor's transaction, so as to preserve arguments that the equity investors are mere co-owners.

Would this be in the form of cross collaterizing my current portfolio with a single lender?

We own a brokerage and my wife ErinAnn Beebe handled our side of the transaction, she is excellent as well.

Communicating, being fair but firm with contractors, and keeping a clear chain of command is key to run a tight ship.

However, there are several endorsements to the policy that you might want to consider depending on the specifics of your transaction so I suggest you consult with a good real estate attorney who is familiar with title insurance coverage.  

Just be careful because getting a mortgage based on the idea this is a residence for you and then renting it out has legal implications that you don't really want to cross.

It would be a separate transaction, which means you are closing two loans and have two closing costs.

I think there is a good opportunity for value add to this property, so my question is  since most HOA's, for the most part also NPO's is it possible to "buy" a HOA, or would the transaction have to be a land purchase and would I have to create a new HOA?