But high rise resorts are a deterent and associations fees.

Bigger Pockets and your local State LL association is all you need.

Costs associated with them and trust factors?

You’ve got to figure out all the costs associated with the property!

The home was purchased in 2011 for $134k so I imagine that amount includes all the fee's associated with nonpayment.

I pay my HOA separately from the rent, directly to the association.

@Lee Underhill if you can buy $80k condos, with reasonable association fees, and rent them for nearly $2k per month, buy every one you find!

@Nick LarkinsOf coarse you should do it .. if you can manage the unique challenges associated with these neighborhoods.

3- Can I use a portion of the sale money towards closing costs and other fees associated with the new property?

Another idea is to buy multifamily properties.The area in which I'd like to invest does not have any type of "landlord association"...so I made a "landlord association" website and appointed myself president.