So, proper screening is EXTREMELY important!

Also reality is the only time you will get nailed for not managing deposits properly is if you use that money.

A properly screened Section 8 tenant.

You've had lots of investors, nobody is complaining, you aren't over hyping your past deals but they are easily verifiable and have the proper filings.

Sounds like its time to sell since the HOA fee just doubled which usually means the HOA has not been managed properly and failed to build a strong reserve account.

@Anthony Sigala that "Rule" was created for mostly Class B properties BEFORE the Great RE Crash of 2008-2010.Values after the Crash dropped so much, that it could also be used for Class A rentals.Values are now more than their pre-crash highs, so the rule now only applies to Class B & C rentals.How are you identifying Class B & C submarkets in your area, so you can properly apply the rule to the right rentals?

When you analyze a market properly (1% Rules aren't properly), you're analyzing all the properties in that market at the same time.It's even more dangerous for newbies to use any Rule of thumb.Rules of thumb are nothing but shortcuts, which seems to be the growing method of doing anything now. 

Most inspectors will know that properties only need to meet whatever the code was when they were built, not current code and they usually explain that properly IME.

@Chris Kay to learn to properly DIY manage you have two basic options:1) Trial & fire on your own, hopefully not making a major mistake that costs you tens of thousands of dollars.- Once your time is more impotant to you then the cost of a PMC, you can hire one.2) Hire a PMC to guide you on your first rental and learn from their expertise.- You can buy additional properties and DIY manage those, perhaps leaning on the PMC for any issues you're not sure how to handle on your own.Good luck:)

There is a safety and follow up piece to have the proper information.