The house looks promising from an investment perspective - or at least as promising as it can be in this seller's market where most houses sell for prices where the rent is barely large enough to cover all foreseen expenses, let alone leave you with a steady cash-flow, profit.This one looks like it will allow us to get some decent cash-flow after all expenses, fixed and anticipated (including capital expenditures, vacancy etc) are accounted for. 

On top of this, estimated $3000 capital expenditures / year.

I've c/p'd the gist of the numbers below: Property Specific Inputs Offer Price $ 90,000.00 After Repair Value $ 90,000.00 Rehab/Repair Costs $ 5,000.00 Annual Tax $ 2,315.00 Monthly Insurance $ 100.00  Cash Needed Acquisition Costs $ 26,720.00   Holding Costs $ 692.74   Refinance Costs $ -   Total Cash Needed $ 27,412.74           Rental Income Gross Rental Income 1.94% $ 1,750.00 Operating Cost Assumptions Vacancy Rate 8.0% $ 140.00 Maintenance 9.0% $ 157.50 Capital Expenditures 9.0% $ 157.50 Property Management 10.0% $ 175.00 Total 36.0% $ 630.00 Owner Paid Utilities Electric/Gas ($/month) 8.6% $ 150.00 Water/Sewer ($/month) 11.4% $ 200.00 Trash ($/month) 0.0% $ - Total 20.0% $ 350.00         Cash Flow Calculations   PITI $ 692.74   NOI $ 770.00   Monthly Cash Flow $ 77.26 Net Cash for Deal $ (27,412.74)   Cash on Cash Return 3.38%

As for the cost of dues in an HOA, those are typically determined by the age of the property, the level of maintenance required and whether the HOA is putting away enough in reserves as they are required to do so for capital expenditures like new roofs, road work on private roads, maintaining driveways, etc..

Some major capital expenditures were recently done and seems to be in a good area.

@Theresa HarrisI've asked multiple time since last year to join so that I can help with deferred maintenance and capital expenditures management, basically what happened to me doesn't happen to other.

The expectation would be that I can at least do 4 flips a year (average $30K) to cover our living expenses and let the rental income build up the cash reserves month-over-month for vacancy, repairs, capital expenditures, etc.; however it would be a safety net from month to month, if needed.Request: I want to know any and all of the possible financial or other real estate investing issues that I might come up against that I need to be prepared for that could put me in a precarious financial situation.So please, unload any and all possible events that would make this scenario something that would put my financial situation at risk.Thanks for your time!

If you guys are looking to rent it out then you would need to run a pro forma factoring in all of the operational expenses associated with the property against the rental income ( amortization, economic vacancy factor, insurance, property tax, reserves for capital expenditures and repairs, etc.) and see if it is actually a profitable cash flowing investment.

@Juan Carlos Castillo  What about budgeting for vacancy, repairs, and capital expenditures? 

I am usually using 4-7% on cap expenditures and repairs and maintenance, each.