Looking at buying my first piece of property and finally found a condo I like in a great location, under budget but the HOA is stringent on rentals (all leases must be approved by HOA, approval process seems lengthy and min credit score is 700 FICO) should this be a deterrent for me in terms of buying this as rental property?

Also unless there is any specific termination clause, tenant is responsible/liable to pay full lease term.I think there were specific outlier in Texas that allows tenant to exit without penalty, but it does not qualify for any of them...2.9.1.

What, specifically, are you doing to acquire ten doors so quickly?

@Brian Williams I know your working on a budget.

Tutorials  emphasize the need to do due diligence on all the following:--check for taxes and liens against the property--find out which taxes and liens, if any, will remain attached to the property--make sure it is a buildable lot--to do above, you need to establish how the lot is classified for code purposes, and access the lot specifications, minimums the lot must meet for construction to be allowed--you further need to find out what its sewage situation is because 1) municipalities have different lot minimum specification for lots with public sewage and lots with septic; and 2) if the lot will require the construction of a septic tank, you need to take that into account in your decision.

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With the budget that you have, I think Cleveland or some of the mid west states might be a good option to buy another property.

Even undeveloped land will have annual property and school taxes.I didn't look at that specific address, but overall those are some of the things to look out for

A lot of new/updated electrical was required, but we chose to have all new electrical because so much was necessary and there would never be easier access.So I have new plumbing and new electrical, but have never been further over budget on any of our rehabs (not even close to this over budget on anything previous) and we have done quite a few rehabs (enough that I never expected to be this over budget).  

I also paid like 5k to have it all custom built out for our specific use.