However, during an HOA board interview, I was informed by the HOA president about an impending $40,000 assessment per unit for major renovations.

Hello BP Community, I own a LTR in Colorado Springs My HOA community is a bit overbearing.

@Douglas Gratz make sure you get approval from the HOA if there is one.

Ask price off market: $250K, No HOA, rents approx: $1900-2100/month, RE taxes approx : 7400/year, Property insurance : $1200/year, Misc fees trash,rent registration etc : $400 / yearEvaluate this and let me know your thoughts.

With my current mortgage + HoA at $1600, and my rent at $2700, I have cash flowed around $1100/month since moving out in January of 22.

Condos and townhomes are nice but HOA fees eat into your profit. 

Not to mention, more HOA and possible gov't regulations on short-term rentals.With that in mind, as long as you pick an area that caters well to long- and mid-term (and possible short-term) rentals you'll have multiple exit strategies to employ.

Is your DSCR ratio greater than 1-meaning are you cash flowing (according to the lender's criteria of mortgage, property taxes and insurance (and HOA) if applicable).

It's really $66 if you divide the annual HOA fee into monthly amounts.

#2 If the pipes were shared with others, does HOA have to take care of the issue?