.• Have written permission from your Homeowners Association (HOA), if applicable.

I love that MTR turnover is not as frequent as short term rentals and there is usually higher opportunity to cash flow each month, although there are added expenses such as utilities, lawn or hoa fees etc., to account for.

I’m looking at two properties about the same price, both around $360k.prop 1: new construction townhouse, HOA of $100, private outdoor patio, 1060 sf, 2 bedroom + 2.5 baths.

Take a look at the HOA and see if it changes every year, HOA price increases can factor in on your profits with respect to Condos

That's sort of the catch, the larger the building and the more amenities it has, the more rules you will run into. 2-3 story walk-ups in nice neighborhoods could be a good place to start, lower HOA fees too.  

The townhouse currently rents out for $1850 while my mortgage/HOA payment is roughly $1600. 

Breaking even after mortgage, taxes, HOA, so not getting capex etc. on top right now.

But my rental is not generating any cash flow in fact I have to pay for tax and HOA out of my own pocket.  

Their house is 2400 sqft; 4 bedroom, 3 bath with space in basement that could be an apartment or be used as a nice Airbnb; it's in a development with an HOA.   

Buy a townhouse in this development near where I live called Sea Colony:Details: $860k for a comfortable townhouse.Pros:Comfortable place to live for the next few years, and I’d still have liquidity to invest elsewhere.It is still in my current community where all of my friends live, so I would still be where I want to be location-wise.Will get appreciation.Cons:High HOA fees ($660/month) and potential 10k special assessment in the next few years.Likely won’t cash flow after we move, so unsure whether it would make sense to hold.3.