However when he retires and I need a new manager, is there someone who may work for 5% or flat rates when he needs to meet with me or tenants,  and be a part time manager as I have decribed above?

Has anyone experienced a decrease in valuation or sales prices due to a property having annual HOA fees?

They may want to come back and settle with you, to take it off their credit rating. 

The remaining principal was about $450,000; the stated interest rate was 11%, and the note had 8 years to run with a balloon.  

Brian,I am a but and hold investor (central ma) who built a portfolio on prices and interest rates of the past.  

But I think this is just the running rate.

Raise the price back up and advertise offering rate buy down.

You might have to lower your cap rate expectations in the short term, but it's worth it for better long-term gains.

@Joseph Chiofalo has some great nationwide STR investment loan products and fixed rate second/Helocs for investors loans clients tapped into recently. 

I got a 4.75 rate 30 year fixed on an asset based loan in PCB, Fl.