Is HOA a bad thing for investors/landlords?

[Nevin Yu]

Hi BP,

I am new to REI and I have been looking at a lot of types of properties, single family detached, attached, condo, etc.. And some of the have HOA, some don't. My question is, actually a two part question. Is HOA good, bad, or doesn't matter for investors? If so, why?

And another question I have is what type of properties do you guys buy for REI? Why?

Thanks BP!