All great responses to your question, and completely agree with everyone above.I have 2 properties in HOAs and the barrier to entry was substantially lower in my market than a single family home not in an HOA.

That $3k per month will add up substantially over time. 

This resulted in a substantial $2500 reduction in the sale price.

Unless it will have substantially less maintenance.

The basis of depreciation for Property B will be the lesser of the Fair Market Value of the property on the date it was placed in service OR the cost of the property (plus any additions and improvements -- not repairs, but substantial improvements, such as additions or renovations).

Multiple, billion dollar companies are investing substantial amounts of money into our area, such as Intel, Google, and Amazon.

If it was worth substantially more than $20k, there would likely have been multiple offers and the ability to make them compete and bid over asking.

I'm sure it's 100% doable, however, every time I do something new, there is always a substantial learning curve. 

This is a mid term rental and I receive substantially more than surrounding comps for monthly rent. 

.= Owner selling the property= Substantial lease violations= History of non-payment of rentThe history of non-payment of rent is conditional and specific as to the details and timeline of non-payment.