That mindset is unpredictable and doesn't protect you from the downside risks of holding rentals. 

The biggest "downside" we've found is it can take longer to get reviews since you're getting much fewer stays per year, which in turn can make it harder to get traction in the beginning. 

The major downside we found to a town home that is not in an HOA is you have no control over neighbors, and they are too close, unlike single family detached, where at least there is some space between, and maintenance, like roofs, can be tricky if you need access to their property to fix yours or his neglect is causing you problems.

The downside is They get a variety of unknown people who don’t know the Hoa rules or the local customs/moirés of the neighborhood.  

The downside is the extra fee (origination and processing fee, ~1%).If you want to go to bank directly, local credit unions have great rate.

However the downside is that you don’t have full control over what happens with your property.

The downside is they simply do payments and nothing else, you'll have to go to other methods for tools. 

You capture all upside in your simple calc an no downside.

All deals have downsides, the more clearly you can articulate these and show you’ve planned for when things go wrong the more trust will be built.Draft a one-page overview of your experience and accomplishments as a real estate investor.

The only downside is that if a common area is damaged and nobody fesses up to it, I just have to repair it and move on.But it would be the same as in a multi unit building.