For those price points around the 2% is common.

It is a common theme in the area and less competition is making it harder to keep prices down, but I'll definitely be shopping around. 

Obviously HOA fees are usually pretty outrageous when compared to properties where there is no HOA or it's a typical SFR neighborhood with typical HOA dues for things like cutting the grass in common areas, or servicing the neighborhood pool. 

It certainly means things aren't going to plan - but that is very common in MF syndications these days.  

Networking with other investors and seeking advice from financial advisors can provide valuable insights and help you avoid common pitfalls.Keep an eye on your financial health by maintaining an emergency fund and avoiding over-leveraging.

Is that something that is common?

Common fees will include a set-up fee, a leasing fee for each turnover or a lease renewal fee, marking up maintenance, retaining late fees, and more.

On the flip side given how sub to has been mass marketed through the guru / trainer folks you are going to have a lot of the buyers who are NOT properly capitalized  who dont understand how to do these correctly or are just plain crooks and when things dont work out they walk or even worse realize they can just rip rents and not pay on the mortgage this was very common back in the mid 2000s  I got a few interviews with the FBI chasing down folks that did this 20 30 50 times they were criminal enterprises and they ended up in prison..

This is pretty common in Oklahoma 

It helps determine if the project will meet the desired profit margins.CoC (Cash on Cash Return): I find this particularly important for fix-and-flip projects, as it measures the actual cash return on the cash you’ve invested, giving a clear picture of short-term profitability.Cap Rate (Capitalization Rate): While more commonly used for rental properties, it’s useful in understanding the potential income from a property relative to its price.IRR (Internal Rate of Return): This is a great metric for longer-term projects or those with varying cash flows, as it takes into account the time value of money.Some investors might overlook metrics like AAR (Average Annual Return) or EM (Equity Multiple) if they’re not as relevant to their specific strategy.