$600/mo HOA on a $120K property?

Fortunately, because I purchased the property with full cash, I don't have to worry about holding costs (besides hoa and electric).

I am on the HOA board so I have more control over what goes on with the property and know the financial stability of the association but you still give up a lot of control over your investment.

Many of them have land leases plus high hoas so there's much control you lack.

First off, my current situation is as follows:I am 34yrs old and own a 9yr old tract built home here in Indianapolis 3BR + Game Room 2.5BA 2-Story, that appraises for $130K with a monthly payment of $965 including P&I, MI, Homeowners, HOA Fees with just under 21yrs left on the FHA mortgage at 5.75% - approximately $107k left on the loan.

Here are the numbers:bought at $297k (cash purchase so no financing)rehab cost $27,500Holding costs $1060 for 4 months (March - June)(hoa $235 x 4, util $30 x 4) = $1060closing costs around $3000Sold at $423,500Closing Costs:Title: ATLTA Owner's Policy: $1,075Sub Escrow: $250Reconveyance Fee: $75Escrow Fees: $1,047Deed Prep.

Our HOA is incorporated.

I have their criteria, they even will buy in HOA communities-w. no cdd!

I have a family member who listed their very nice and well maintained home in Las Vegas but has already seen 2 offers fall through with their Listing Agent.I checked comparables on Redfin and noticed very similar properties were selling for $10K-$30K below what they had their home listed for.He called me and asked if I knew any cash investors who wanted to make an offer on the property because they really just want to move out and move on with their life.Here are some details on the home:2 story SFRListed at $159K3 bed / 2.5 bath1460 square feet4790 lot sizeBuilt in 2002Attached 2 car garage$30/month HOA feeClark CountyI'm thinking it would be a great buy and hold property for a cash flow investor.

Townhouses and Condos have HOAs at times, and always read the HOA.