Raleigh Area HOA vs Non HOA

[Keith Boom]

I'm running the numbers on property in the Triangle area to purchase my first rental. It seams to me that HOA fees really hurt your monthly cash flow which is what I'm trying to focus on. I was wondering if any of you factor in things like a new roof and yard work as expenses you wouldn't have to set money aside to eventually fix/take care of and remove that from what you would normally set aside ie major/minor capex for homes without an HOA? For example, a property with no HOA would need a new roof that's $10k. Break that down that's a little over $40/month over a 20yr span. Lawn service would be another $30-40 a month. At an extra $80/month taken away from my capex, that would help mostly townhomes, in the area that's attactive with shops and good schools, look more appealing then the ~$140/month cash flow i would be looking at without that factored it. Just was hoping to hear some opinions from others who have similar experiences.