This is my first HOA property.

The HOA fees are often $1000+ per month, but if that covers all utilities and insurance (common with many buildings) these can still pencil out. 

Is your DSCR ratio greater than 1-meaning are you cash flowing (according to the lender's criteria of mortgage, property taxes and insurance (and HOA) if applicable).

Many condo HOA's also disallow STRs.You have to due your diligence!

I have offered both to buy them a condo to start, but they aren't ready yet so one is renting and one lives in an ADU on my property.Single-family is strong and smart, but I like condos for younger kids because the HOA saves them of all the things they don't know how to do.

My experience is that condo associations typically charge so much in monthly HOA fees that any potential investment income gets eaten up by that fee.

Make certain that municipal code, or HOA, allows for a vacation rental in the area you are looking. 

Most properties did not have HOA fees listed.Overall, the data paints a picture of an expensive but high-demand market with established single-family homes that sell relatively quickly.

It seems most of the HOA's have figured out the insurance issues from the past couple of years and have leveled out their HOA fees and insurance assessments.

Depends on your state and I'm assuming you have the basic stuff about lease termination, eviction, etc.A few we like to add:- if you don't change filters, then tenants pay for a full duct cleaning- charge an admin fee for all HOA notifications, not just violations- Clear tenant responsibilities- Fees for adding or removing tenantsBest of luck!