You need to evaluate the HOA and its management, with a focus on the reserve account percentages.

So this is some kind of communal organization - there is a "mentor" at the top, and a bunch of "mentees" who do work for each other/for the mentor.Hopefully the asset is all in your name and your name only. 

As a powerful organization, I would like to see Bigger Pockets become a leader in not simply educating real estate investors but leading the way in warning investors about the real estate guru pitfalls.  

@Elizabeth KingYour accountant is wrong.

If your goal is to make money, and you aren't finding deals that you think will do that, there are other things you can do.But more directly to your comment: 1. cap rate does not take into account appreciation.  2.

Account Closed 100% they are

I learned how much an escrow account check matters to your overall mortgage payment.

It probably won't come close to $150K.Run the numbers if you put the profits into a savings account paying 5% interest and see how that compares

I took into account a likely cheaper labor rate but will say when we owned units in gulf shores that i was not encountering that low of a labor rate.  

I learned how much an escrow account check matters to your overall mortgage payment.