Investing in 55 and over living community.

[Ronald Morris]

Hey everyone, this is my first post and I'm really looking forwards to your responses. To keep a fairly long story short while looking at other properties here in Ventura county (southern California) a realtor I was speaking with mentioned she had a few properties for sale in a 55 and older community. She thinks I can get the place for $360k I am a cash buyer and it's a 5-10 minute drive from my current place. The average rent is about $2200/mo with a $460 HOA and the place is pretty much turn key besides some minor sweat equity I'm willing to put in. She has assured me the HOA allows for renting, but I will confirm this myself. Even after my expenses I should cashflow over $1000/mo I'm just not sure if these community are worth getting into. I would love anyone's experiences with these types of community's and homes or any advice on where you think it's a good deal.