Repairs and maintenance was $3492.50 for the year. 

.- Can't see a Senior-Only complex allowing Short-Term-Rentals (STR).If so, SELL.2) What is the history of Association Fee increases and how well capitalized is the Association for future repairs?

What is your draw fee & benchmarks for the repairs portion of the borrowed money?

Mine rented in less than 15 days.)All in all, that gives me $140 a month for vacancy, CapEx, and repairs.

Any repair (perhaps over a certain number of repairs) or time spent on a door outside of routine management is a "claim."  

They'd be much better off being a Hard Money Lender and make 5 times that (and every repair to their "investment house" is paid by them...So, if you put $10k down on a property and make $150/month net cash flow your Coc Return (annualized) is 18% which is Very Good.If you followed that and understand it then keep looking for a deal.

This is typically done 3x a year.Hire a company to deep clean the washing machine, drier, and dishwasher.Reimburse us for the combined 8 hours we have now spent on cleaning the home.Repaint the walls, at minimum in the basement.Prorate our rent for the days we are unable to be in the home due to the current issues and any repair time.Please let us know how you would like to proceed.Thank you,Sindy and Cary"You need a professional property manager!

Any repair issues the new acquisition has you will feel to much greater magnitude due to the property carrying a lot of debt.

Often times they come back with a list of repairs that they would like to see to protect the home or mitigate liability. 90% of the time those items were on our list to fix anyway, and sometimes we even haven't done before we get the letter from the insurance company.

From there it's up to you on selling. 8 years you should be not breaking even unless this place is in a rough area or needed a ton for repairs over the years.