Make sure the contracts you are using are correct and reviewed by your attorney.

That way, you can at least have some input to how the money is spent and how or when the fees change..The way you need to look at a HOA, if it's done correctly, is as an enforced Maintenance and Capital Reserve expenditure, which are moneys you'd have spend one way or another anyway.

major bummer. thanks for the reply david. 

If you graduate with a finance degree, you will be qualified for higher paying jobs, in general, than you would qualify for without that degree- correct?

Thank you for taking the time to reply!

Thank you for the detailed reply. 

Thanks for the quick reply and heads up David... reposted, with a link to the calc.Thanks again!!

I did incorporate the water and electricity (the seller mentioned that the renters paid for their own), with the PITI eating up that much of the income (as you'd mentioned), the utilities would just push the whole thing over the edge.Thanks again for the quick reply and the second set of eyes.

If I'm reading it correctly, it documents four falls by three people.

Many investors here on Bigger Pockets will say you do not need to do that all the information you need to get started is right here in Bigger Pockets and they are correct.