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.

I am planning to get into the TN real estate market as my first investment and am looking for some information.In particular: Areas to steer clear of, property management fees, typical cosmetic rehab costs, etc.My strategy is to put large down payments on 2 properties (relative to housing prices) to help pay for my living in NY while still gaining appreciation in a growing real estate market.

Understand the fees involved and calculate the total cost for an entire year of management so you can compare the different managers.

* What is your average work order cost for the owner?

We decided the cost was too high and it was not worth it from a financial or risk perspective.  

Is it possible to keep my land loan out of it to keep the total cost low?

EDUCATE YOURSELF - yes, it will take time, but will lead to a selection that better meets your expectations & avoids potentially costly surprises!

Eviction headache and cost is something you definitely don't have to worry about with party #1, not to mention wear and tear.

At 3% interest you’re bearing both inflation and appreciation from the cost side. 9.  

. - Value add - How much does it cost to build additional storage units?