New Jersey retirement/age restricted communities.

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Been doing a sweep of these communities in central - southern NJ. I would like to here from any New Jersey-ites that are either flipping or holding such properties. I have paid very close to the HOA's and also By-laws of each of the communities (some very restrictive others not so). I am shocked that I can pick these up at 40k in pretty descent shape and rent for $950-1050. Some of the HOAs are $90.00mo taxes 1400yr. These are simple 2br 1/1/2 bath sfh's. Your thoughts?