And just confirmed by another BP member:

Your biggest issue is that $50k may not let you get a nice house and have any reserves.

Do to the state mandates that require 100% reserves in all categories, combined with the rising cost of their neighborhood insurance policy, my strong recommendation is you find out what further anticipated spikes in association dues & if any possible special assessments are looming.

However I like to run my numbers conservatively and account for cap ex, vacancy, maintenance reserves 10/5-7/5-7% respectively.

It can simplify end-of-year paperwork, but you’ll want to confirm the details with a tax pro.3.Long-Term Game PlanPaying out of pocket and keeping your medical receipts can be a great strategy.

They would likely be able to confirm that your expenses are reasonable for the area or that your rents are at market rates.

You'll need to confirm the exit policy with the current PMC. 

If the guest feels slighted, there is no fact checking service provided by AirBnB to confirm their claims, so it is up to you to let future guests know the level of professionalism you provide.If you are able, I would recommend editing your response to the 1-star review.

If you have a road maintained by the HOA then set aside for that in reserves. 

@Duarte MarquesPossibly but highly not recommendedFor those with no real estate experience or experience in taking on debt, it’s not easyTo do it also with little to no down payment or reserves in most occasions will end in disasterReminds me of when in high school a friend used to let his dog drive his car.