It couldn't hurt to call a couple attorneys right away to see what they say in terms of cost and suggestions for dealing with this quickly.In terms of mitigating any legal issues with your tenant be sure you are documenting every conversation you have had with the HOA in terms of asking them to make the necessary repairs.

What is your draw fee & benchmarks for the repairs portion of the borrowed money?

Repairing to sell might recoup some costs, but given the market and your limited funds, selling “as-is” is likely the best option to minimize further losses.

Feedback has not suggested property needs additional repairs/work, only that they are looking in a different area.

Hi Natasha,Here are some key points to consider about setting up a Mexican corporation:Setup Costs: $1,500–$3,000 USDOngoing Costs: $1,000–$2,000 USD/year (accounting and tax filings)Benefits: Tax deductions for expenses like maintenance, repairs, and managementBest for: Multiple properties or income-generating investmentsWhile a corporation is ideal for managing multiple properties, it’s NOT required to obtain an RFC.

The catch is she is retired and won't have income except SS, thus I would be paying for everything...the HOA, repairs, utilities, insurance, etc.

I'm bleeding money as I write this, the cost is pilling up as I need to repair the damages, and replace all the appliances, they damage the kitchen cabinets also.

In previous roles, I was responsible for the asset management, capital improvement, repair, and maintenance of an ANG Fighter Base worth over $400M.

It's a good practice to overestimate costs and underestimate after-repair values (ARV) to keep your expectations realistic.

Turnkey properties are already renovated and tenant-ready, meaning you can focus on the investment side rather than dealing with major repairs.