FI with a huge buffer for law suits, life changes, health issues, etc.

The tenant is back from a mental health stay, threatening neighbors at 4 AM, etc.

The units have to meet certain cleanliness and health and safety standards, but the HA doesn't set how and when the LL has to do so.  

Here's my process on determining the health of a HOA.  1.)

I know the desire to own and hold properties, i share the same sentiment but without cash it will be really difficult. the saying, cash is king, is for a reason because it gets to demand lot of others to its tune...So saying, if your analysis and research proves that you are getting a GREAT deal and that your payment back in the 401k is surely met (unless you decided to pay the early withdrawal penalty and tax) and your risk for any health/life event needs are less to none, then i say go for it...I encourage you to go forth and prosper...but if you are having any second thoughts on your course of action, then HOLD back and save up as much as you can till you are not held back with any second thoughts... just my 2 cents bud...all the best

Let me start this out by saying bad things happen but good people work their way out of it.Due to2 babies, my health and several hospital stays the following is my situation.Own my home.

In Michigan, they would be liable for the rent until the new tenant was in place unless the lease says otherwise or they were leaving for a bigger reason- health, safety, etc.  

So that would potentially be another cost/health problem.

This packet should have contained all the vital info. needed to determine the health of the HOA, as it should contain budgets, minutes, etc. 

We have to make sure we get an inspection, find out what's wrong with the property, see if it's economically feasible to rehab the property, ensure we are compliant with all local/state rules regarding REO property, register the property if applicable, ensure health and safety issues are addresssed (Toxic DDT Landfill?)