So often rentals don't have taxable income; and once they do it's still not subject to the payroll taxes paid by W2 wages or on self employed income. 

Real estate, like other things has a snowball effect.

We wanted to self manage.How did you find this deal and how did you negotiate it?

It comes down to the most effective use of a marketing budget.

@Palak Patel copied from our website, so use what's useful for you:_________________________________________________________________________Below is more information about what our Applications Department does to screen applicants and find the best tenants possible for your property.Required InfoWe require the following from each applicant over the age of 18, that is not a dependent of another applicant (as evidenced on a tax return):Copy of acceptable state picture IDRecent YTD paystubRecent W-2Recent Bank Statement, all pages, no info blacked outRecent tax return if self-employedApplicants are often slow about turning this information in, asking us why we need it and then taking several days to submit.

The lower cost of entry allows for self-sustaining rentals while providing long-term stability.

Remember, the notion of amassing wealth without investing is a dangerous myth perpetuated by self-proclaimed experts.

Everything should be pretty self explanatory in regards to filling it out.

Self managed HOAs are usually undercapitalized so you want to take a thorough review of the condition of the community to make sure there isn’t deferred maintenance because you might get hit with a special assessment if the board isn’t setting aside cash for those capital improvements.At face value, taking into consideration my typical financial objectives, I wouldn’t do this deal unless it was a much lower price.

If it won't have any effect then don't do it.