Hi there,I own a handful of longterm rental properties in Chicago and have sat on an HOA Board for many years.

How bad is the insurance, how high are the property taxes, is there an Hoa, etc etc. 

Miami is a great place to invest both for short and long term rentals and with condos, property management is simplified but be sure to ask about HOA fees as early as possible especially if you intend to go with a DSCR loan.

In the last few years, they've made illegal:-Rent controls of any kind-Limiting of fees or screening charges-The ability of HOAs to regulate STRs or LTRs in their neighborhoodThat's just the start.

If he opts for a townhouse, a low HOA fee will help his buying power It gets tricky using lease agreement income when purchasing a house so I do not think that idea will work.

It’s also worth diving into local regulations and HOA rules—they can shift quickly in coastal markets like this.

Research Kyle, TX's rental demand, local regulations, and HOA rules.

HOAs are a blessing and a curse.

The plan is notorious for minimum insurance and they were previously capped at $20M for larger commercial and HOA properties.

@John BerjIf cash flow is a top priority, factor in HOA fees (common with new builds) and confirm rent comps to ensure the numbers work.