However, profits would be bigger if there were no HOA fee and there would be more opportunity to make improvements on the property.

@Paul Bogard going to assume you are buying this proeprty to live in while you "house hack".First, you should understand +95% of real estate agents ONLY know how to sell owner-occupied properties and are almost useless for investors:(Find an agent that has rental properties themself or can PROVE they've got successful repeat investor clients.Secondly, you can greatly improve your cashflow by renting out your other bedrooms.

We have also completed some exciting improvements including retyring a boiler for heat/cool ductless mini-splits and 9 units being electrically updates.

For tax purposes, remodeling costs like the kitchen and flooring are considered capital improvements and depreciated over 27.5 years.

I got a lien on the house they were flipping, all looked good on paper, then I found out they were using my $60K to improve their personal house!

Hopefully we get the latest water bill version through the state assembly this time to improve this.   

Ideally doing some value-add improvements during that 1yr. 

Efficient Renovations: Focused on high-impact upgrades like modernizing the kitchen and bathrooms, improving curb appeal, and installing energy-efficient features, which are highly desirable in this competitive market.Optimizing Layout: Evaluated the property's layout to ensure it met modern buyer preferences, such as creating open-concept spaces.

Ideally, I would love to buy a multi-family property and rent it out, I would consider house hacking but I mainly want to my first property to be one that I can improve on and have it generate income for me.

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