I dislike lot rents and HOA fees.

Utilities, hse pymts, car payments, HOA, charities all automatic, all free.

We just dealt with perhaps the biggest tyrant in HOA history.

I have noticed over the last year a spike in HOA security deposits.

You need 20-25% down, need a 720+ credit score (maybe as low as 680), you need two months PITIA (A=anything else like an HOA) for all existing properties and six months for the new new one in reserves.

I personally haven't had any real problems with HOA's but the potential is there and don't like it.

is there a process to purchase HOA liens?

I understand there will be an HOA, board of directors, etc.. but my next question is, if I converted the 28 unit apartment building to a 28 unit condominium and kept the 28 units as rentals (I'll sell as condos when the market comes back), do I still need an onsite manager?

Or the HOA if you have one and it requires the walls be there and well maintained.

in our area, i've found around 1.5% works just fine for SFH if you manage it yourself & stay away from condos w/ HOA in a blue collar suburb.