I have a client that bought a condo to rent after living there and the HOA ended up outlawing rentals.

So can I calculate my cash on cash return like below $40K(appreciation)/($42k(Down payment)+(2.1K(Monthly payment for Mortgage+HOA)*36)) = 40/(42+75.6)= 34% so the annual cash on cash return is about 1.34 to find the cubit root.

From what I understand HOA/POA dues don't get wiped out with foreclose sale in FL, so if you see a $150,000 condo get sold for $50,000, could you still owe $100,000 in back HOA dues and special assessments?   

Regarding the HOA and CC&R's, the builder can make changes to the CC&R's pretty easily while the development is under Declarant Control.

I've spent aproximatly 61.5K on expenses over the years, Interest, Property Tax, Isurance, HOA and various repairs and upgrades.

Honestly, I’m not a fan of HOAs—they’re like little dictatorships, and I’ve got some wild stories to prove it!

HOA will eat up a lot of your money. 

I am not able to take equity out of my condo because it is currently on the blacklist due to HOA fixing the roofing and a Fannie Mae rule stating, if more then 50% of the condos in that community are owned by investors, I may not be able to refi.

( Regarding interior, and not HOA, management, location)Anyone has experience renting for snowbirds?

My question is: Have you heard of any property management companies (single-family, HOA or multifamily) that have been sold recently in your area—or anywhere in the U.S.?