@Clayton Smith -  Skip all the guessing and speculating and take this to the best commercial broker in your area. 

Depending on the size of the complex, no one likes to do more pro bono work.I'd say skip and buy something else not in an HOA.

Please don't skip either because I know of people who have and it led to a whole lot of not good.Best...

That's an awful lot of tenants you are skipping trying to focus on just one thing.  

@William LinhardtPay to skip trace 10,000 phone numbers.

How's batch leads skip tracing btw?

In addition, they should already know efficient processes and ways to scale a MF portfolio, so you can skip over that learning phase you would go through if you started off smaller and did most of the management yourself. 

Skip Tracing - has anyone used BatchSkipTracing.com or Datazapp? 

Most states have all sorts of tenant protection laws specifically relating to deposits, and in skipping the walk through WITH the tenant, you are opening yourself up for a difficult day in court.

If you cant do it yourself you can hire a skip trace, but there are no guarantees on that obviously.