My challenge is when looking at their total net income, they are making about $6,800 net, but after deducting $2,200 rent, $3,200 total debt obligations and $100 utilities, they are left with only $1,300 per month to live with.

The HOA could challenge the validity of the TCB sale and you might not get a deed.

The downside to holding on to this property is it will need new windows and a new deck in the next 5 years and is on 3/4 acre lot so mowing and yard work are a challenge to have the tenants take care of.

It would be very challenging to purchase 5+ with 20% down but if you did FHA financing you could purchase up to 4 units for 3-10%. 3.

Luke,The area around Camping World is rough, and the tenants can be rougher and are somewhat money challenged!!

It is the economic hub after all. if the precises are challenging try Hamilton, Tauranga and Wellington. 

Severe challenges with their interconnectivity with AirBnb and Wheelhouse API's

Thanks for your advice @Noel Challenger!

That will be one of your bigger challenges along with slightly elevated taxes and water rates.

Also, there seems to be something psychologically challenging for good tenants who get a brand new 1-year lease in front of them that makes them go out and see what else they can get, whereas they seem to forget that they're renters if you just let it go M2M on expiration.