Legislation to end this abusive, excessive, and illegally applied fee was pursued in Colorado several years ago but was watered down and then killed by HOA property manager interests.

Plan to rent the house for between $1200-$1300/month.Rehab Needed: The house is in fairly good condition overall (solid foundation; new high efficiency furnace; newer water heater; updated electric), but we are estimating $25k in repairs.

Typically it would generate $1400-1800 in rent with around $3,000 in taxes probably around $1,000 in insurance and $500 for water (all yearly) The neighborhoods are a little on the rougher side and many of the tenants are subsidized, but with good management can be a good return for you. 

The approach so far is containment, water extraction, dehumidifiers, anti-microbials, manually removing mold, sanding all wood surfaces once dry, hepa vac, kilz coating of all surfaces, hepa vac again.Perfect storm:enclosed crawlspace, still air, hot water, spraying water leak for at least one and up to two weeks straight.  

The common areas have electricity for lighting and hot water heat and there are two coin laundries so the owner utilities consist of common area electric for lighting, gas and water for the common area heat and hot and cold water for the coin laundry. 

Those condos on the water seem to get decent rental prices.  

so...I just realized today that I had the hot water heater for the laundry room washing machine off.FOR LIKE TWO MONTHS.I was trouble shooting something and turned the breakers for the hot water heater off. 

If the properties are similar in construction and equipment (furnace, AC, water heater, ranges, etc), then splitting on size is an easy way to do it.  

LTV is 75%. 5 PlexTotal Rents: $45,600Vacancy 8.7%: $3,967Taxes: $4,520Insurance: $2,100PMC: $4,560Repairs: Unknown (Could be $1,000 or best guess of 10% of GRI $4,560) Need inspectorElectricity, Heat & Water: $2,500Misc.: $200Total Expenses: $14,880NOI: $26,753Mortgage: 4.63% Debt Service: $18,026Cash Flow: $8,727Down Payment: $97,500CoC if Maintenance at $1,000: 8.9%CoC if Maintenance at $4,560: 5.3%The maintenance portion of the above is not fully vetted and could bring my CoC return lower.

EXTERIOR IPMC 604.3 - The rear receptacle must have GFCI protection.LOWER LEVEL IPMC 704.2 - One smoke detector is required in the bedroom.IPMC 604.3 - Install a grounding jumper wire (bond) across the water meter. #8 copper.