Appliances fail. 

If the tenant fails to give notice, then the tenant pays for the full 60 days. 

Buuuuut, on page 3, which is where the company-authored portion begins, it states: "This contract creates a mortgage or lien against your (Owner's) property to secure payment and may cause a loss of your property if you fail to pay the amount agreed upon."

If the HOA Board of Directors (or their hired management team) is failing to "ding" for these violations then they are in violation themselves.

In Brandon’s book “Real Estate Investing” he mentions that in some states if the LL fails to have a written initial occupancy inspection the LL loses the right to retain any deposit regardless of repairs.

Like anything else you have done...you WILL make mistakes, just fail fast, mitigate the damage, learn the lessons and we will be hearing your interview on the bigger pockets podcast.   

"Hire a contractor" is what everyone wants to do, and yet is the #1 reason people claim their projects fail.

. * Get really good at negotiating, you will fail with this strategy more times than not, but it's okay.     

As they say....Fail to prepare, prepare to fail.

@Zechariah Crosby,If you fail to plan, you are planning to fail.