Maybe 1500 other closing costs, so 6k total. 

There is always SOME manual work, but you can cut out a lot of the back and forth-- definitley.

Do you need to increase rents in the next year to cover your costs?

My questions is about opportunity cost.

You can't even drive by and look at a tree before you decide if it needs to be trimmed up or cut down.2.)

Are there risks or hidden costs I might not be considering?

Let's cut to the chase:  "A tenant is obligated to follow HOA rules, as they are considered residents of the community and must abide by the same restrictions as homeowners, even though they do not own the property; the landlord is responsible for ensuring their tenants understand and comply with the HOA rules. 

Keeps costs low and guests satisfied!

I think there is a common misunderstanding that licensed contractors cost more.

There are ways to mitigate the costs and protect yourself to the extent possible.