Taking the time to work with the Banker and discuss common rents, taxes, any HOA's for example is key.

Bought my fist property in 2022,PITI + HOA at the time was 2200, based the market and renovations i believed i could get 2400-2500 for the property, which i did get 2500 the first year.

Not sure how midterm does in other areas, but it has been an amazing strategy for me (allowing me to save money on PM and decreasing the turnover and potential issues with HOA or neighbors).

The HOA fee takes care of external up-keep and maintenance so you don't have to worry that the tenant isn't taking care of it. 

It comes with the land so no lot rent but there is an HOA.

A few examples:PMI if you put down less than 20%HOA fees or budgeting for your own maintenance costsZillow Estimates: I found Zillow can underestimate costs, so I add a bit more to their numbers to get a realistic idea.Hope the process is going smoothly for you!

Some HOAs are more lenient, but it is subject to change anytime.

(Taxes, prepaids, attorney fee, origination fee etc) So let’s assume your acquisition cost is $227500.Cash flow is income - expenses.Expenses are PITI, vacancy (5% of rents), capex (5% of rents), repairs (5% of rents) and property management (10%) of rents, plus lawn maintenance, HOA fees etc.

The HOA is only going to get worse.

It's illegal for HOAs to regulate property use in any way- they can't tell you that you can't have an LTR or STR.