However, it's important to carefully consider the terms and interest rates of the loan to ensure it aligns with your financial goals.

Its a little different than regular straight line asset depreciation 

Which is an asset-based loan that looks at the property's ability to support itself.

You'll get a lot of opinions on here, going both directions..Personally, I am ok with zero or little cash flow (but not negative) ONLY IF the asset will certainly appreciate nicely, and within a  period of 2-5 years (just my own rule)But I don't like the concept of having your other assets cover this one, each asset should stand on it's own.Just my $0.02....

I know every economic belief of lower rates= higher asset prices.

One with 90+ members is great because it affords the HOA a lot of economies of scale with vendors thereby keeping HOA fees lower.Review the HOA financials and make sure they have a substantial reserve that would cover a hail storm deductible and/or other storm damage.Read the Bylaws to make sure they're rentable and check the pet limitations.Check the common grounds for any big ticket items that may need replaced soon.

A DSCR loan is more based on the asset's revenue potential, not your personal qualification, so if a vacation rental/Airbnb property can make money, you might qualify.But even if you could get a DSCR loan, I'd question whether you should get a DSCR loan. 

Do you hold other assets?

Wondering if this is something I can get into with little to no financial risk or if I should wait until I'm out of college and have more money.

Cons.If you buy an entity, you will get all the liabilities along with the assets.