I'm curious, do you know if they are still collecting HOA fees too?

So if I understand you correctly, that you can only afford $60K on your own, but more with your parents, then maybe have them co-sign on a nicer single family home, 4 bdrm, and rent out 3 rooms (if allowed in that HOA or zoning).

Right now I have one condo which I have turned into my first rental(slightly negative cash flow due to HIGH HOA, so potentially flipping it soon) and have aspirations of using my VA loan to purchase my first multi-family(did you know you can use it for up to a 4-plex with 0 down as long as you live in one of the units?!)

Only a RMLO can assist your buyer getting financing.And beware of condos and HOAs.

Renting Yours, is also an option if allowed by the HOA.

We have stayed away from condos due to HOA fees.

In order to recoup lost HOA fees, the HOA rented it out.The unit is not in terrible shape, but I had to trash it out and make some cosmetic repairs.Can the HOA do that?

Sounds like real aggravation, help Yourself for free by studying some Illinois hoa case law, looking for precedents and other rulings that may help Your position.

There is no HOA in place. 11 of the 12 are rented - $1700 on average.

There is a hefty HOA, but as long as I buy low enough to hold it for 6 months, I don't see a problem.