I’m up huge on equity, but cash flow on rental is like -300 with all in cost baked in (mortgage, taxes, HoA, insurance, accrual/cap ex).

Parking is extremely important when renting by the room in an HOA community.

They’re interested in signing a six month lease with the option of going month to month after that.My HOA states that lease agreements must be at least 12 months in length, as to discourage short term rentals and high turnover in the neighborhood.

@Ty Thomas I would look into the HOA fees for the condo.

Condo rental biggest expense besides HOA?

My first questions would be regarding zoning regulations...are they vacation rental friendly (i.e. area restrictions, HOA restrictions, etc.).

The HOA takes care of all of the exterior maintenance including landscaping and snow removal.

- Insurance = $120/month ($1440/year)- PMI: $174/month (0.06%)- HOA: $50/monthTotal: 2,321/monthwith MCC : 2,131/monthI plan to bring on 2 roommates, or 1 roommate and Airbnb single room to offset this by $1300/month or $650/month/room. 

These units are in a community with an HOA which maintains the exteriors, landscaping, and snow removal.

The specifics are as follows:HELOC - $55,000Purchase Price - $37,500Closing Costs - $4,000Rehab - $15,000Rent price - $1000 (includes $165 HOA fee)ARV - $73,500 (purchase price of the exact same condo 2 months ago)Cash out refinance (75% of ARV) - $55,125 (pays back HELOC)(Already have lender lined up for 6 months post-close)Post-refinance cash flow - $225 conservatively Six months out, I want to have a cash flowing property for minimal money out of my own pocket.