There is a famous case in San Francisco a few years ago where a local couple bought the HOA property like sidewalks and streets, in an expensive neighborhood.   

She's been renting it for $2,800/month and the condo has a $600 monthly HOA. 

To provide some context, she initially approached our company to manage her HOA.

$3800 seems high, but maybe that includes an expensive HOA?

There is a HOA foreclosure i am interested in purchasing at the auction (Texas).

If you go inland just a few mile the insurance is much cheaper and with a sfh as compared to a condo the HOA are very low.

Is your DSCR ratio greater than 1-meaning are you cash flowing (according to the lender's criteria of mortgage, property taxes and insurance (and HOA) if applicable).

One of the biggest cons is that 55+ communities often have very high HOA’s that cover a variety of services which makes them usually less profitable than comparable properties that are not 55+.

As mentioned previously, some HOA's charge a fee every time you rent and this could influence your bottom line.  

Is your DSCR ratio greater than 1-meaning are you cash flowing (according to the lender's criteria of mortgage, property taxes and insurance (and HOA) if applicable).