Definitely worth factoring into your strategy, though

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I have been told the DST pays it and of course it gets factored into the DST cost and there is no other cost.Then along comes another RA/RR/BD and it says the cost is 7-11% and anyone telling me the cost is 5-6% is not telling the truth.

Market Selection: What factors do you consider when choosing a profitable location?

I am waiting for a seller to let me in on any sort of motivating factor or insight that could help me put together a proposal. 

The high HOA fee is already a factor, so ensure you’re comfortable with the overall carrying costs.Focus on the Land Value: Since the lot has development potential, you’re looking at this as a long-term investment.

@Jon LaBorde An estimate like that is going to be useless for you because it depends on so many factors.

I've included an example below to help illustrate this.So different lenders have different rates (which do vary even for DSCR loans) but these are factors they all consider.See example below:DSCR < 1Principal + Interest = $1,700Taxes = $350, Insurance = $100, Association Dues = $50Total PITIA = $2200Rent = $2000DSCR = Rent/PITIA = 2000/2200 = 0.91Since the DSCR is 0.91, we know the expenses are greater than the income of the property.DSCR >1Principal + Interest = $1,500Taxes = $250, Insurance = $100, Association Dues = $25Total PITIA = $1875 Rent = $2300DSCR = Rent/PITIA = 2300/1875 = 1.23If a purchase, you also generally need reserves / savings to show you have 3-6 month payments of PITIA (principal / interest (mortgage payment), property taxes and insurance and HOA (if applicable).

It's not my biggest concern, but it is a factor.

Make sure you're factoring in all expenses when running numbers.