The HOA may or may not be well run.

The HOA in which my father lives has changed their payment schedule from quarterly to yearly.

We advised him we would need to amend the lease again should he take on another roommate, in order to be HOA compliant and have that person recognized as a resident by the HOA.

Any past due property taxes or HOA fees/liens?

What percent of the condos may be rented out per HOA?

With that said, I don't do condos since I don't do HOA, but as far as ground level units, I've always heard that's generally a plus.

Renting for 7 years(4 tenants great 1 marginal)..I advertised on CL and did all paperwork via email/fax...HOA in place and get notices if parking or trash issues..

This a town home(with HOA) in Kansas City, MO.

I was looking at some bank owned foreclosures, which were ok but not great, and then I decided to drive into a new constuction community and was blown away, at $200k I could have a brand new 3,000 sqft 3 bed with game room, great room, living room, dining room, .5 acres, community pool, basketball, tennis, soccer only $45 HOA. 30 minutes from the center of the major city in that state.

Comp it at rentometer, craigslist and anything else you can find for the area.The numbers as I see them at 42k purchase plus 20k reno loan rolled in. 25% down:Mortgage Rate 5.00%Length of Mortgage in years 30Monthly Mortgage payment $249.62Taxes $66.67Sewer and Water $-Trash $20.00Heat/Utilities $-HOA $-Cap Ex and Ops $150.00Insurance $50.00Mgmt Fee $110.00Vacancy $88.00Total Expenses$734.29 Total Revenue $1,100.00Cashflow/month $365.71Cash on Cash Return 20.90%