I have already spent quite a bit on attorney's fees myself. 

The advantage with the bank was minimal closing costs, a good interest rate, and a draw system so I could get funding as I completed each rental unit. 

Next, I tend to recommend that clients stay away from inflated HOA fees.

If you're willing and able, I do recommend the "house hacking" strategy which is just a fancy name for buying a rental property and living in one of the units, because you'll get very favorable financing - an owner-occupied fixed-rate 30-year mortgage.I'd also say, analyze that property as if you won't live there and it's a pure rental, and make sure the property is still cash flow positive if there's a tenant in your unit because then you'll know if it's actually a good investment.And when you analyze it, include payment of a property manager in your #s because if you don't, and doing so would make it go cash flow negative, then you've just bought yourself a job because you literally can't step away from managing it without losing money.

Also, I would look at rental rates to property values to determine if any areas are around the 1% rule.

That is part of the problem with a lot of companies (I am not knocking insula as dont have all the info/facts just stating how the business works), they engage brokers to get them loans and the brokers collect a small fee. unfortunately many of the brokers may be similar to real estate wholesalers - have little to no experience. 

Rents, yes 100% I do adjust billing and it is above standard tenancy rates because they are doing it for business revenue. 

The key is to analyze occupancy rates, seasonal fluctuations, and what type of properties perform best.

Those sounds like great rentals and vacancy rates have been decent - our management team only has a handful of vacanies out of the 300+ we oversee, thankful for that.

What am I missing (besides in some instances you have a lower interest rate but do not get clean title to a property)?