When it was released, the reviews were thru the roof. 

There are more duplicity costs with SFH - more roofs, more yards, etc - but I have had and managed both and homes are better in my market. 

This is the roof of the first floor. 

Each of the 5 warehouses on this campus will require updates (construction of offices/bathrooms, roof repairs, paint, siding repairs, new penetrations for doors, updates to electrical, insulation, and extension of water and sewer). 

It seems to me though your short term objective is to get the HOA to take immediate action on the roof.

I'd like to have a cathedral ceiling (drywall right under the roof rafter) and a big ceiling fan.

You can probably beat $2000/year insurance, but the management fee should be 10%, you need to factor in turnover too and 5% is probably not enough for both maintenance and turnover and I assume you added it, but you didn't mention property taxes (which have been terrible in Jackson County lately since Frank White decided to jack them through the roof). 

Now, with those out of the way, you can worry about the roof, foundation, sewer, HVAC, pool, etc, because these don't matter at all if you can't get the property sold.8.

We fixed the foundation and the flat roof issues with pooling water, and rents didn't meet the mortgage just yet.In 2023, we finally started to cash flow.

If you are not coming in cash and you plan to hold for five or more years, its the best time to pick up a property at a steep discount and make it work until the cycle turns again.