They should also do their due diligence to find out if the property is approved but in reality they should already know, since they are selling the unit and it is part of the information available through the HOA and property management. 

From what I'm seeing in the local market, property management companies are charging between 20-40% of rent and HOA dues run about $500-600/month. 

(i.e. will not require rezoning or a variance)Will it be as of right or require a use permit, architectural review, HOA approval, etc.?

HOA is $210/mo, property manager takes about 7%, property taxes $4,400 per year, and insurance about $60/mo. 

But that neighborhood does not hve any HOA's that I can see that are being inforced. message me if you would like to know moreEddy

These expenses can be anything from utilities the owner pays, management, repairs, capital expenditures, vacancy, HOA fees, etc.

Condos/townhouses both have HOAs, HOAs from my experience go UP in cost, not down.

We can't rent our current house because HOA doesn't allow us and if we sell it I will probably lose 15-20k.

I was hoping to get some feedback from this expert community about the neighborhood and building based on their ownership experience involving the HOA, parking, pros/cons and everything else in general that a first time home buyer should consider?

Property taxes look to be about $860 annually and there is no HOA.