HOA in theory can remove free rider market failure if well managed, when there are costs and/or needs for management shared by all.HOA kind of philosophically touches on the oft debated (and oft oversimplified) ideological debate between centralization or decentralization of authorityMy thesis would be: I suspect that HOA developments have higher property values in general, however when controlled for development budget on a per home basis, I would wonder if this actually holds up over time.I have heard anecdotal stories of corruption within HOA bodies, and mismanagement. 

We're nearing the end of our due diligence period, so I wanted to double check that we weren't getting ourselves into a mess before our money goes hard.I also wasn't sure whether to have the current owner fill the units, as I've heard horror stories about owners just filling the units with warm bodies in order to show the higher occupancy on paper, when in fact, they turn out to be not the best tenants.All that being said, I absolutely agree that this is a glass half full situation, as we will get to push those rents sooner than expected.

I mean in my fundings  we are 180 days on average and these are professional flippers.. and I do 100 plus a year of them so I have a pretty good body of work to run averages on. 

Operating agreements can be large and important details can get buried within the body of the text.

In general, I think they want bodies.

Traps are so cheap... don't make them "handle" the little bodies. 

Advertise TODAY and make sure you advertise BELOW market rent,...just get some bodies in there ASAP.

I get it, "well if you have it you use it" or "well no body is going to hand you money" but, there's thousands of books out there on how or why you should use others money to gain freedom and profit, which quite a few of them are books produced by bigger pockets. 

At my age, my physical body is becoming more limited.

I did manage to dig a bit deeper and found out that the municipality of Edmonton has an advisory body still active which offers a full suite of forms which have been legally reviewed by their own real estate lawyers and by the dispute resolution courts.