You can earn more if you manage the property yourself... but if you are busy with other ventures, a management company might be a good route.Although no one is getting rich on their first income property, you could feasibly have it paid off in full in 6 years or less and then aside from depreciation, taxes, management fees and whatnot, it's cash free and clear.

., he would be a great resource for advice or a joint venture on your first deal or 2. 

What you have mentioned, confirmed my concerns about venturing into such a niche.

I coach cash or terms investingI believe that you need to understand the following types of investingWholesaling where you control property with a sale and purchase agreement or option agreement and sell the contract; I believe you won't do well in wholesaling unless you have some cash buyers alreadyRetailing where you actually buy the property fix up and resell it to a retail buyer; you should have Hardmoney lenders and joint venture partners, cash partners,  credit partners before you do retailingSeller financing which encompasses usually low equity deals.  

This also could be an opportunity to bring on a joint venture partner.

Good luck on your venture and keep up the hard work

The HOA could joint venture the deal or do it on it's own.I'm wondering do you as the HOA president get solicited for such a thing and what would they need to enter into such a venture.  

Hello all Jeff here would like to introduce a bit about my arrival here at this site.Well first off way back in the day I went to realtor school.Then started the Contractor Roofing Business,And after year's of doing the construction work.Mostly with in the last couple year's my client's that I was doing work for was mostly home flipper's and the rehab work for these client's,they would ask the same question's to me how come I'm not doing it.So I thought about it but never acting on it or truly understood it,until now when I am in the right place I have a house that I am trying to find an investor to buy my real estate and make a profit.Remember I do the Rehab work.Well that's part of my venture til this point and I want to expand this Investing Into something bigger.

I'm currently experiencing a situation in where I've paid to setup an LLC, generated a business plan and even took days off work to make sure this joint venture is setup correctly.The issue is my prospective partner has had bad partnerships in the past and now his mother in law, who is a retired mortgage loan officer, has a heavy influence on his decision making which impedes our progress.

Welcome to BP @Karina S.There's a great meetup in Palmetto on Tuesday afternoons as well as a large one in Sarasota if you ever venture south of the Skyway.