Looking at buying my first piece of property and finally found a condo I like in a great location, under budget but the HOA is stringent on rentals (all leases must be approved by HOA, approval process seems lengthy and min credit score is 700 FICO) should this be a deterrent for me in terms of buying this as rental property?

In the case of property, the value you get is measured more broadly than in dollars of bricks and mortar.

The increase on your quality of life is hard to measure, but easy to feel. 2) As you mentioned, APPRECIATION will most likely be higher in more desirable areas.

@PJ McLaughlin I was worried about the same, and so I require tenants use ach transfers from their bank and don’t accept payments via credit cards, I also require payment to be received by the due date, not simply posted and pending through Cozy, money must be in my account by the 1st; thinking these measures would save me from this pitfall. unfortunately that doesn’t seem to be the case, and I’m dumbfounded.

They have very stringent requirements as to documentation, and they charge fees and points, but Tim Corr, the lending agent, was upfront with these, and he was also on point, making sure that all my T’s were crossed and my I’s dotted.

As someone who has a tendency to spend excessively and live paycheck to paycheck, the lockdown measures implemented during the pandemic unexpectedly helped me stabilize my financial situation.

While this affiliation might bring certain advantages like integration and streamlined services, it’s also worth noting that many tech entrants in the property management sphere sometimes miss the intricacies of real estate management, focusing heavily on financial aspects instead.If you're looking for alternatives, you might want to consider other established platforms that specialize in property management, like AppFolio or Buildium, which are paid services but widely recognized for their comprehensive features and security measures.

We are in a quiet suburb....more urban areas with higher crime rates might call for additional measures but again, don't let this deter you.Over the last three years we have averaged 8 NET move ins per month.  

Find a model that you can run the exact same test numbers through that you trust has accurate measurements of IRR. 

Am I being too stringent?