So, landed myself in an unplanned opportunity...potentially.Run down, I have a counter offer from a motivated seller for 417K.

Yet, when you're talking about a $15k property, or even $40k, 5 grand unplanned is the end of the world, or seems like it at the time.

But isn't there something nice to know that in 12 years I will have 150K (minus any unplanned costs down the road) in equity compared to my 35K now? 

., $50-100/mo.) that tenant trouble, a large maintenance item, or unplanned capital expense will put you into the red for the year.

Special assessments will blow your rules out of the water, just like major repairs need many years to amortize over your investment to meet your percentage "criteria", an unplanned special assessment is hard to swallow for an investor.It is in the nature of the board to not raise dues.

I want to know how much their fees are from the onset of the process to avoid awkward negotiation or unplanned closing costs.

You are right that it has been a lot of work for what is currently cash flowing at about $40/month, but this was a bit of an unplanned BRRR. 

By being proactive with these issues up front... you will avoid costly damages and repairs at an unplanned time later.

However, during your 30 day due diligence period, you will dive into all financials, have a thorough inspection of the property done, figure out deferred maintenance, unplanned capex work, etc.

My biggest lesson was a $7000 unplanned expense when I learned that the entire sewer system under the house was filled with roots so thick that I had to pay for complete replacement from underneath the house to the street.