If the project was built by the seller, will he retain any intersts in the HOA?

The property is 3.8 acres that sits right off the interstate in a rural part of town.

We are also centrally located between East and West coast and right off a major interstate.

San Antonio, because of the military, built their roads system in the shape of a wagon wheel with major interstate and highways feeding our downtown area.What this has caused is having the ability to live where you want to live as you can travel to pretty much every major employment district within 20 minutes without having to fight much traffic.

Trona mines, coal, power plants, railroad, ranching, oil and gas, and of course shipping and trucking companies on the interstate are just some of the economic drivers. 

The other caveat is it needs to be easily accessible and close to major commuting routes...not interstates so much as main roads...so buyers can easily stop by on their way home.So what I do in this case is I have an Open House from 5pm to 7pm. 5 to 6pm, you get a couple people here and there.....but from 6pm to 7pm I get about 30 groups of people through.

For example, a friend of your tenant trips on an electrical cord that is in the rental and gets a head injury.

ExteriorThe walkways were cracked and should be monitored for action.Sections of the aluminum siding and trim were damaged and should be replaced.There was weathered wood trim throughout that should be replaced as necessary.We recommend installing window well covers over all window wells.The left-side gate was damaged and should be repaired or replaced.Some of the hose spigots were inoperable and this should be corrected.There was some minor cracking throughout each driveway that should be repaired as necessary.There was storage in the 1070 garage that obscured some areas from visual inspection.The Genie overhead garage door opener was not working properly and should be serviced or replaced.The garage door opener was plugged into an extension cord and a dedicated outlet should be installed.We recommend installing downspout extensions to divert drainage away from the foundation of the home.Each overhead garage door was damaged and should be monitored and repaired or replaced as necessary.The patio screen door was badly torn and damaged by the dog and should be replaced.The left side storm door was missing and should be replaced as necessary.

Beacon/newburgh is an intersting case.  

I.e. large pieces coming off it on the interstate at 60MPH.In my market it would be worthless.