This is mainly the reason for the move, I was initially looking to stay in NWI but our market has heated up and I feel like I'd be paying alot more for less at this point. 

house is staying In parents name until I can refinance into my own but I can use existing equity.

The tenants had already stayed one year in the house.

Stay hunting folks!

I know folks who go to LV all the time, who love to stay at a residence rather than stay on the strip or downtown. 

The fact that they own their homes is a plus, stay away from community owned homes, however the value of many homes in older communities does not set a high standard.

I believe a foreclosure will stay on my credit for 7 years, but I believe the impact is greatest in the first 2 years.So am I crazy for just letting the HOA proceed or is it worth it to simply pay it down?

They rarely stay in good condition or looking good for long.Fans are old.

So you would need to stay in the FHA loan for a while to refinance.  

This is not the business where you want to make mistakes or learn from your mistakes as if you get negative publicity upfront, those reviews will be there for a long time, and a huge majority of guests read these reviews before they decide on a property.I would also consider staying at another airbnb, especially by those who have high ratings and super host, to find out how they communicate or deal with their guests.