In my 25 years of doing HOA's, before getting on the happier side of life, I encountered very few in older HOA's, but they are out there.

.- Real Estate Rookie - it's designed for people just like you who are getting started and seeking to understand terms, concepts, and processes...it's like a crash course to build knowledge in real estate- Bigger Pockets Podcast - this was their first podcast and it contains invaluable examples of other investors, situations they've encountered, and how they got to where they are today.

It was more of a general example of unknowns I will encounter in transitioning my primary to a rental property.

A NN lease roof an structure in a cold belt state landlord obligations can be way different for a landlord than a NN in a warm belt state where you typically are not encountering lots of snow, ice, etc. that wears down roof and parking lot faster.

It was remarkable how many “no call, no shows” we encountered.

Because it takes repetition for people to remember things and you have to be top-of-mind when they encounter a potential client for you!

In my efforts to obtain a Certificate of Occupancy, I encountered a requirement for a zoning permit.

Their agent, who was one of the worst agents I've ever encountered, probably doesn't understand how any of this works, probably talked them out of it.Was originally listed for $525k and we bought it for $443k with a new roof and a fairly long list of stuff being fixed at their expense. 

I have never encountered this kind of regulatory state overthink in my 25 years here. 

There are lots of big $ pitfalls that you can encounter: second mortgage foreclosing, HOA foreclosing, other title issues, IRS liens, collapsed sewer pipes, burst water pipes from improper weatherization, to name a few.Start hereAbsolutely try to contact the borrower pre-foreclosure.