Is rent 220 less than your mortgage, taxes and HOA fees or is it 220 less than mortgage, taxes, HOA, pm fees, expected maintence, expected vacancy, and expected capital expenses?   

The entire town is in a property owner association(basically and HOA).

It would be like an HOA at that point.

It is also nice having the HOA as it spreads the cost for flood insurance and the roof we recently replaced

The lower of the current rents and market rents are used to determine DSCR, but some lenders will go up to something like 120% of market. 3.DSCR is calculated with principal, interest, taxes, insurance and HOA (if applicable) vs rents.

q=f8z5B-7KWMortgage DetailsHome value:$495,000Down payment:20.00%Loan amount:$396,000Interest rate:6.10%Loan term:30 yearsStart date:Aug, 2024Property tax:$6,000.00PMI:0.50%Yearly Home Insurance:$3,000Monthly HOA Fee:$0BalancePaymentsTaxes & FeesInterestPrincipalBalance20242029203420392044204920540150k300k450k015k30k45k Mortgage Repayment Summary$3,149.74Monthly PaymentPMInot required$99,000.00Down payment amount20.00%Down payment %Jul, 2054Loan pay-off date$467,906.17Total Interest Paid$500.00Monthly Tax Paid$180,000.00Total Tax Paid$250.00Monthly Home Insurance$90,000.00Total Home Insurance$37,796.87Annual Payment Amount$1,133,906.17Total of 360 Payments

Personally as part of my lease for condos I state that any HOA fee incurred due to a tenant's actions or neglect will be passed on to them and due to me within 30 days.

I know, HOAs are blasphemy in investing circles).

Roll back taxes, HOA arrears are just a small sample of undisclosed issues you will face.  

I am looking for a property that fits my short term rental business needs, so far sticking with properties that are unincorporated and not part of any HOA are the best bet for the longer term.