Lastly, there are often hidden "special assessments" that the board can levy which will gnaw away at your cash flow.

Originally posted by @Levi Bennett:I'd love a lake norman multi-family meetup group.

Taxes will be more like $180-185; new levies begin for the 2018 tax year, payable 2019 so they aren't reflected in the numbers yet.You should budget 10% for management to be safe unless you already have a local manager committed to a lesser rate.Condition-wise, it's unlikely you'll need to do much, if anything.

-Levi

That or call the President and ask for the fines to be levied ASAP.

A late fee in the amount of XXX shall be levied on the X day of the month if said rent payment has not been received in full by midnight of the day prior.

With this info they could also easily identify all illegal rentals and smack them with fines too.HONOLULU (AP) — Hawaii is seeking to find vacation rental owners who aren’t paying taxes by getting Airbnb to turn over rental records.Hawaii News Now reports the state Department of Taxation filed a court petition last week to serve an administrative subpoena on Airbnb for rental documents dating back to 2008.The department is investigating vacation rental owners’ compliance with the general excise and transient accommodation taxes.State Director of Taxation Linda Takayama says the department’s goal is to get the taxes paid, which could involve penalties and interest fees if owners haven’t been paying.Airbnb in a statement said it has received the request and is reviewing it.

Regarding Condo Exterior repairs, it is also common for a major repair to require additional funds over the HOA dues, so a Special Assessment is often levied.   

A fine has to be levied by those with the authority to do so!

You have also authorized your attorney to file for a wage garnishment and bank account levy to recover every cent plus fees.