Cons are that tax credit financed properties are highly complex and take a TON OF TIME, with uncertainty of execution (waiting agency/local approvals, etc.

For $500 per month, just for the HOA it must be a super high-end property with a golf course, swimming pools, tennis courts, club house, etc., but I had HOA's in Las Vegas for $35 per month that had all those amenities including the gold course and beautiful club house.Do the math!

That said, while the trend among the large developments is the all-inclusive approach, there are plenty that aren't interested in paying upwards of $1,000/bedroom or the pool/golf simulator/shiny complex lifestyle. 

This is particularly true in California where regulation is reminiscent of the Soviet Union, people are nutty, and courts often err on the side of injustice.I also recommend "Every Landlord's Legal Guide - California Edition" by NOLO.

In 21 years you can have a court award you title https://codes.ohio.gov/ohio-re... or https://www.nolo.com/legal-enc...

Home got very nasty and we called the city health and safety office and they sent in an inspector and he testified in court the home was uninhabitable and they tenants had to leave. 

Five and up you're in commercial territory with higher rates, shorter terms.Also, I owned condo rentals, and the HOA provide several laundry rooms in the complex, and they forbid washers in individual units.

Adjacent to the main building is a pelota court and a single-story motel, open to overnight guests.

An HOA in Chaffee County, Colorado are seeking a new property management company to support of an owner-occupied multi-unit complex.

I spoke with my broker and the real estate attorneys we usually work with, they said, as long as the plaintiff/ tenant's attorney is able to file a motion or whatever and relate the intentional of the out-of-state company with tax evasion matter, then they can have the liability court in the city where the property is located after the first motion is resolved.