Because with an HOA in tow that means your not doing it alone, you have active "partners" who will be taking care of a slew of things so think of it like training wheels. 

There seems to be a lack of due diligence before properties are listed, and when questioned about the discrepancies between advertised and actual returns, the responsibility is often shifted to third parties.While it is true that there are properties within their portfolio that do cash flow, finding these requires careful due diligence on the part of the investor—just like any investment.

Tax free money is huge.I may have 100k of instant equity so I don't care about about tax write offs.

What I've gathered so far, is that it is more than likely a step in their process to change the electric utility back into PM's name (they took care of all bills on our behalf) by the move-out date.

I have to usually explain that just because the owner made xyz does not the next person will or even care.

But it is so cheap so who cares.  

If I donated to aids health foundation and they spent the money on rent control instead of aids research or health care, I would be pissed.  

At another property with just the sidewalk I let the tenants take care of it, but the liability of these steep stairs makes it too important for it to be haphazard or me having to scold them to shovel and salt the walk and steps.I know in snowy areas people with houses contract plowing for the winter at a flat rate.

Some gurus tell practicioners of sub-to to hide transaction from the lender by saying the lender doesn't care as long as the payments are being made.

Makes me think they could be too busy taking care of a new baby to attend to guest issues?