The profit margin is very healthy whether you want to sell and even better if you hold and lease the units.

The second place I bought out of state was Charlotte NC primarily because the job growth a couple of years ago was through the room and the population was growing at healthy rate.

The anticipated deal will have a mortgage for 20 years and want to make sure that if someone decides to leave the partnership that the finances of the property remain healthy. 

I was wondering how many condo investors measure HOA health? I

My interest, as a newbie, is to find properties that will give me a healthy rental income and as I earn enough from one to keep adding units.

So, given that there was a crash 10 years ago (and some people forecast another big one soon) and there are plenty of investors that do ultimately fail in healthy economic times, what does that look like, and how do you recover?

It's in your best interest to keep a healthy reserve balance for the property to support these ebbs and flows of cash flows.

Do you also have a healthy savings account?

with a healthy cash position. 

If you decide you are more passive oriented then my BP article from last year might be helpful Three Key Routes for Passive Real Estate InvestingIf you are looking to own cash flowing rentals in economically healthy markets then best options are generally in the midwest, and some in the southeast.All best in your REI!