I have always been concerned about the power of condo HOAs and do not like others to have such a say in my investments.  

Is HOA lien wiped out at tax deed sale?

More advice would be appreciated. 8 paidoff townhomes (100k per unit) aren't pulling the income necessary, hoa fees are eating the owner's lunch, he cant self manage anymore, nor can he afford property management.

Current rent: $1300/mo - Current expenses: $1091/mo (mortgage (P&I + taxes + ins), prop mgmt, HOA, and maint).

I was inadvertently giving the treasurers job for the HOA in that neighborhood since the lady that sold her duplex to me was this 92 y/o.

Condo HOA $490/ month.My basic financial picture right there.

Cashflowing property where the rent covered all of the expenses such as mortgage payments, HOA fees, property taxes, insurance etc. including 5% vacancy rate and felt safe even if there was no appreciation or the market downturned I would still be covered as long as rent didn't drop much.How did you find this deal and how did you negotiate it?

I bought an investment property in a fairly restrictive HOA community.

We are splitting down payment and all the work (managing renovation and furnishing the condo, getting & managing renters, ongoing house keeping, repair, dealing w HOA, etc.).

I don't have much experience with them, but I had a client looking at that a couple houses a few years ago and we found half the places HOA wouldn't allow short term rentals.