buying stick built houses in 55+ PUD

[Loyd Frazier]

I have shopped central Florida for sometime and been shown a deal that has 4 SFH 2 bed, 2 bath stick built houses in a PUD with HOA fees around $100 per month. I have never delt with an HOA or panned urban development or owning rentals in a 55+ as an owner or landlord.

The numbers work pretty well for cashflow including maint, capx, hoa fees, insurance & property management , im not counting on any appreciation. 

I am requesting the HOA documents to read the rules for long term rentals (they verbally stated they did for year plus leases) and about any delinquent HOA fees on the properties I am looking at.

Is there any other cost, gotchas or things i should consider? Reading BP forums is excellent but reading the HOA opinions has me worried.

Any information would be a big plus. Thanks in advance BP team mates.