In addition, many neighborhoods actually restrict signs in the yard as well as most newer neighborhoods in Raleigh are HOA.

I'm on the HOA board of a ski resort condo complex where most owners do nightly rentals.

This looks similar to an HOA auction play....you need a low purchase amount, since you're just buying the rental income stream until the bank/IRS comes knocking, not actually buying the property for a long term.

Are there HOA fees?

Rolling the 13k into the loan I see $1400 in rent against the following expenses: Mortgage Rate 5.00% (you may do better than this) Length of Mortgage in years 30 Monthly Mortgage payment $363.56 Taxes $183.33 Sewer and Water $- (tenant) Trash $- (tenant) Heat/Utilities $- (tenant) HOA $- (none) Cap Ex and Ops $150.00 Insurance $100.00 Mgmt Fee $140.00 Vacancy $112.00 Total Expenses $1,048.90Cashflow/month $351.10Cashflow/year $4,213.25Cash on Cash Return 15.01%

I am afraid that I am setting my expectations too high and might be tossing out perfectly good deals because of unrealistic expectations.For instance, I found a condo for $60k (list price), $200/yr taxes, $184 HOA, 10% vacancy, 10% management co, and $60/mo insurance.

:)I have a question (maybe a few) regarding HOA fees and I haven't been able to find a thread that addressed this issue exactly.I found a distressed home in a pretty nice neighborhood that is listed at an attractive price, so I went to have a look.

HOA and Holding costs are going to be higher on a condo.The tighter and more credible your numbers and assumptions, the more likely you are to get a partner (assuming it's a good deal to start with.)Rick

I now have a 4% loan but pay $280 in HOA fees monthly.

@Derek Dowell HOA fees in Florida areas can be killer!