Something to consider would be to read the HOA guidelines for the townhome you are pursuing in addition to the location for these rentals.A realtor or property manager should be able to tell you about the rental market.Also I am not sure what your long term goals are but whichever turnkey property you purchase... instead of paying it off quickly you could save for another  home to purchase when you move from house to house.

I've bought all the roads within different HOA's multiple times, I've bought parking spaces within condo complex, I've bought easements into development, right-of-ways, and common areas within PUD's.

condo HOA is a def killer on return 

Would you mind sharing where did you acquire this Condo and what are the HOA fees?   

Meanwhile its hard to find an apartment that will cashflow due the high HOA fees.  

From the rough outline that I have been provided, it appears that a condo complex will be ineligible if any of the following apply:- Is transient in nature, offering hotel type services (including those offered by the HOA or management company) such as registration services, rentals on a daily or short-term basis, daily cleaning, central key systems, etc.- Is professionally managed by a hotel or resort management company that also facilitates short term rentals for unit owners- Has obtained a hotel or resort rating for its hotel, motel, or resort operations through hotel rating providers including, but not limited to, travel agencies, hotel booking websites, and internet search engines.- Projects or HOAs that are licensed, or have a designated licensed agent, have a permit to operate, or are registered, as a type of transient housing for the rental of non-HOA owned units.- The HOA receives revenue from, or pays expenses for, hotel type services including a registration desk/rental registration desk, or an onsite rental operator's desk, or a rental website/hosting platformI would imagine, just like in Destin, FL, that there are plenty of cities across the country where there are front desks and management companies running a large majority of the STRs in their complex. 

From the rough outline that I have been provided, it appears that a condo complex will be ineligible if any of the following apply:- Is transient in nature, offering hotel type services (including those offered by the HOA or management company) such as registration services, rentals on a daily or short-term basis, daily cleaning, central key systems, etc.- Is professionally managed by a hotel or resort management company that also facilitates short term rentals for unit owners- Has obtained a hotel or resort rating for its hotel, motel, or resort operations through hotel rating providers including, but not limited to, travel agencies, hotel booking websites, and internet search engines.- Projects or HOAs that are licensed, or have a designated licensed agent, have a permit to operate, or are registered, as a type of transient housing for the rental of non-HOA owned units.- The HOA receives revenue from, or pays expenses for, hotel type services including a registration desk/rental registration desk, or an onsite rental operator's desk, or a rental website/hosting platformI would imagine, just like in Destin, FL, that there are plenty of cities across the country where there are front desks and management companies running a large majority of the STRs in their complex. 

With HOA being close to $200, the net would be close to $100-$150 considering some % for vacancy and repairs.

Townhomes can be great places to live, but normally don't work well in most areas for investments due to HOA dues. 

Also, in terms of short term rentals, a lot of HOA's prohibit them.