An HOA is a widely used form of community popularized by the developer.  

I would not trust an average number.This will be very specific to your management, your lease, your leased property, the area etc.Some people have made money, but I've not heard much about arbitrage lately, and some have lost money and  not honored their lease.In general this is just a job and not an investment, so it's widely discouraged in this forum.

Then open a new Google Sheet file, click Open and then select Upload.

@V Reddy First, setting up an LLC to invest in real estate is generally to limit personal liability and for asset protection (select "magnifying glass icon" in top-right corner and search "LLC", you'll get a lot of feedback).

- select markets will be stronger than others.

Selecting bad PM's and now considering selecting a bad tenant...

I have committed myself to being as educated as possible so that when I have put in a few years of self-management I can then select and manage a good PM.

You can invest in any market selecting the ones that you believe are seeing the most growth, and do it from anywhere.

To avoid going through the same poor experience, keep reading.Even if someone gives you a referral here, do NOT make the mistake of assuming that the PMC will meet your expectations, just because they met the expectations of the referral source.In our experience, the #1 mistake owners make when selecting a Property Management Company (PMC) is ASSUMING instead of CONFIRMING.It's often a case of not doing enough research, as they don't know what they don't know!

QOFs can make investments in a wide variety of real estate and new or existing businesses, including commercial real estate, housing, infrastructure, and start-up businesses.