Condo is in Columbus, high rents around $1500Selling price/ final price is $160,000 HOA per month is $149.

It had entered into foreclosure on the first, it had a past due second, and past due on HOA.  

If the HOA dues and other expenses are reasonable so that it might cash flow and you can find one for which the likely rent is greater than 1% of the all-in cost then it may be a good look (1.5% is great for me, but some may say > 2%).I find my renters via Zillow.com (redirect from Postlets.com) and CraigsLists.com + signage.

Many communities (especially with HOA) will have restrictions and require approvals.

HOA's are appx $200/year.

HOA is $250/mo.

I think the risk is higher with HOA fees and a more expensive property, but the rents are far greater. 

In my expenses I includee mortgage, tax, home insurance, vac rate(8%), prop mgr (10%), mowing/snow removal(if applicable), HOA(if applicable), repairs.

The reason I went with condos was they do not require as much effort to manage.i completely remodeled the interiors and my HOA fees cover the exterior.

I don't want to stir the pot by telling the tenant about the ongoing HOA complaints (long story).