It's what you paid, minus the value of the land, plus what you spent on long term repairs (roof, furnace, etc.

Small businesses are typically valued at a multiple of SDE.

It couldn't hurt to call a couple attorneys right away to see what they say in terms of cost and suggestions for dealing with this quickly.In terms of mitigating any legal issues with your tenant be sure you are documenting every conversation you have had with the HOA in terms of asking them to make the necessary repairs.

That's typically where I see people referring to entry fees.

**Navigating Inspections**: Section 8 inspections are stricter than typical tenant move-in inspections, and that can be a hurdle.

Normal repairs are absolutely NOT covered by insurance.

Quote from @Michael Challenger: I have no qualms with hard money lending, but I need to learn more about the process and structure to these for typical deals so that I am more comfortable and in a position to reduce my personal risk and risk to investors as much as possible.

Analyze potential deals by estimating the After Repair Value (ARV), repair costs, and total expenses. 

Quote from @Neeta Agrawal: For context, we gave the tenant a 60-day notice for non upkeep and no repair communication in 2023 and then extended it for 30 days upon his realtor's request, setting the move-out for May 31, 2023.

Well even if the rent is equal to the mortgage, you'll still be in the negative after repairs, CapEx, vacancy, etc.Why would you specifically be thinking of investing at a negative cash flow?