This morning the HOA on one of my properties located in Colorado Springs informed the owners of a "Special Meeting Notice" to ratify an amended 2024 HOA budget due to an unexpected high insurance renewal.

You have very little control over the use of the property, the HOA and costs, especially when it comes to capital expeditures and improvements. 

negative cash flow due to HOA and rent going down.

Quote from @Hoa Nguyen: Was curious about the process and possibility of securing a rental via a hard money loan and refinancing out of it within a month.

We generally 100% require escrow - this seems like something that could probably be figured out - we do have the ability if needed in rare exceptions to waive insurance escrows however - usually we only do so in cases like condos or PUDs where the HOA requires insurance through them and they take care of everything.

This often happens when the assessor office creates a separate lot for tax purposes but the larger lot of which it is part was not legally subdivided.Also, as pointed out above, tax liens, weed abatement charges, HOA, etc all usually survive.  

@Rich Albert This law allows property owners to turn the property with the ADU into a condo building, with an HOA to manage common areas such as driveways and such.  

I should’ve specified in my post that my HOA requires a minimum 1 month rental and I have to provide a signed lease for each rental. 

Is your DSCR ratio greater than 1-meaning are you cash flowing (according to the lender's criteria of mortgage, property taxes and insurance (and HOA) if applicable).

Obviously HOA fees are usually pretty outrageous when compared to properties where there is no HOA or it's a typical SFR neighborhood with typical HOA dues for things like cutting the grass in common areas, or servicing the neighborhood pool.