Lack of participation by members and some red flags that leave me uneasy led me to become more informed.It has recently come to light our HOA has not been paying bills.  

Hello @Precious Thompson ,I would say this is a big red flag.

That said, I think I can help orient you in the right direction.The rules vary from municipality to municipality, but typically if your renovation exceeds a certain percentage of the property's value or square footage, it is no longer considered a "nonconforming use," and becomes illegal.

Its also priced below comps in the area per square foot.  

This may be because they do have more privacy to trash the place, and there is more square footage to trash per unit.You've discovered the podcasts; my other advice is to stay active on the forums, start thinking about what you want your landlording policies to be (don't just focus on property selection, but what you'll do after that), and set up some key word alerts to hear about the geographies or topics you are interested in.

We stay just slightly lower than the going rate and offer a better product to entice long-term renters, so anyone asking to negotiate sends up an immediate red flag.Bottom line is if they cannot afford my rental rate, I cannot afford to rent to them.

Probably A Simple Question Here :How do you add up square footage of concrete needed for a patio ?

I think anything on this would take more than that also, but it looks like potentially a lot of upside to me, even without market increases in this red-hot area..

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