Not many HOAs have reacted to this.https://www.courts.wa.gov/opinions/pdf/700138.pdf  I am not a lawyer but my understanding is that if a rental cap was set by an amendment to the declaration, it must be ratified by 90% owners for it to be valid.  

Find the price where it makes sense for you, and then make the offer just to see how the seller reacts.

Presumably he can bail out the problem for himself, but a lot of people being taught Subject To don't have the capacity to react properly in a loan call.I just think it's more honest to shout it up front, that you need money to invest, safely and there is a way to do that.  

That's the nature of this business; quick to react, slow to recover.Cheers!

This area has seen recessions and Covid, and those property managers who are still around are the ones that know how to react to a changing market, to help their homeowners.

I'd bet you could have found some HVAC company somewhere to do the job sooner than you did....They may be over-reacting a bit, but IMHO, this is kinda on you.Still the remedy is the same...offer to let them go.....

@Serge DuLaudAllemans- there is no perfect time  ..there is no way  anyone can  time it right either - look for  opportunities - if they make sense - react  ...if they dont - dont react but continue to watch

@Justin Simpkins Roanoke native here.  

I'm not sure if it applies to native Mexicans.

(I'm a southern California native who has been dying from all the rain here in Oregon, so I dream daily of any sunny coast.)