In fact, part of the monthly $318 HOA Dues (which I would guess is monthly not annual btw, so check that) in dues you'd pay, in theory, should have a little portion going to a reserves (like an association CAP EX).

Hi, As you know HOA is a cash flow killer, my hoa assesment has been charging me for a year now, how long usually the assesments cost last? 

The only thing that you really need to consider when buying a condo out here are your HOA's.  

For example, a condo that rents $4500/month, I pay property tax of $700, HOA of $300, Repair $50, No vacancy, Insurance $50...

Would highly suggest to start attending the HOA meetings and get involved to protect your Debt Service and NOI.Let me know if you have any questions.Regards,Joe Scorese

The HOA is about $250 / month and the units are old, so I'm really just wanting to get the property out of my name.  

HOA dues seem reasonable, needs work but it's a 2-BR for less than $100k.

Then, determine the burn rate the equity is decreasing due to interest, late fees, foreclosure (if any), taxes, HOA, etc. the burn rate is provably higher and faster than owner believes.Equity can be traded for something else, too, such as a car, rent, note on another property, etc. 

I live in a townhome in a HOA community in northern VA - going on 3 years now.  

The criteria I listed is First & Last months rent plus a security deposit, which is equal to the rent price.  650 credit score minimumNo petsThe HOA that governs the property also requires a background check and credit check as well.