That's 8-12% of the monthly rent - so if that takes you cash flow negative, then maybe this duplex wasn't a good deal at $100 net per door.  

Yeah my YouTube channel is my name I only have one video but plan on posting real estate related topics

Write down the positives and negatives of both with your partner.

Just to help the tenant understand that option 1 and 2 does not make you LIABLE for $X amount which is likely a negative difference between the stated deposit owed and damage incurred. 

Use an experience Team that will help you and you are aware of all the positives and negatives. 

I am definitely all for free speech and this post is public but the negative comments can be a real downer so kindly keep that **** to yourself.

I only had one investment when the market crashed and it wasn't affected.

@Joe P.I agree.I am skeptical that the amount has just been increased by the HOA.I will have to pay 480$ more per year.I was breaking even with seasonal renting(3 months per year) but this might put me into negatives.

However, I'm still in college so I only have a couple of grand to work with.

Realistically, I only put down my original $5,000 in earnest money and at closing I received $5,662 (excluding $3,950 in security deposits) since I used my commission as a down payment on this deal.