Providing the cash flow will support the loan payments.

You can dive into the specifics of that here if you'd like to see why they jumped so high YoY.What I'm saying is, HOAs are a lower entry point of course, can be lucrative if you analyze the deals as traditional long term rentals....BUT, you ultimately have little to no control over specials assessments, HOA fee increases, and even rule and regulation changes that can impact your investment.

I always have tenants provide me with an emergency contact.

Remember with every rental purchased you are planting seeds for a tree that will mature to provide fruit forever.

First, as Tanner suggested, engage a general contractor to assess the property and provide a detailed rehab estimate.

Please note, based on the numbers provided you will not be cash flowing. 154k loan amount - 30Y fixed  4k in annual taxes & Insurance 7.75% Rate Monthly PITI Payment = $1,436.60Your estimated rental income is only 1k-1.4k per month.

@Drew Sygit I noticed you provide property management services. 

Emails and voicemails are do not always provide that assurance.

Surveyors are always provided by the owner.  

You'll need to provide Entity Docs for each LLC that is a part of the transaction so that the underwriters can review them all the way down to the natural individuals/warm bodies.