Expenses include maintenance at $200/unit or $800 total (Courtesy Patrol, Exterior Building, Grounds, Insurance, Water and Sewer) and water averages around $125/month total.  

HOA is around 250-300 that includes maintenance, water, sewer, garbage.

i thought if i choose a condo that allows renting, that should not be changed in the futue.as for repairs - how much of these repairs are the hoa responsibilty and not coming from own pocket. if a new a roof is needed do i need to pay for that or is that something that's included in my fees?

Here is what the numbers came out to:$50k unsecured loan at 8% interest from Huntington BankPurchased property for $40k- used the remaining $10k for repairs (repairs should take max of 2 months)Rent house out after repairs are done for $900-$1,000 per month  ARV of property is $60k53rd Bank offers 90% LTV refi after 6 months seasoning and $195 processing fee at closing- Refi property for $54k on a 30yr mortgage at 5%Mortgage payment including taxes & insurance= $436/monthCashflow= $900 - $436 = $464 gross cash flowRemove 20% for cap ex/vacancy/other expenses (round up)= $100Net Cash flow= $364 monthWith the 90%LTV refi I am able to get my initial $50k back from the unsecured loan plus $4k.

Today there is a lot of money out there and people (including my wife) that want to invest.   

(including TENANTS MAINTENANCE)https://www.biggerpockets.com/hubs/business-operat...

I've been involved in pretty much every different type of real estate....including a successful flipping biz AND rentals. 

I own an older house that's in decent shape but needs some renovations including adding dormer to our attic (or just raise the entire roof possibly depending on expense) to facilitate a closet and more headroom creating an actual bedroom. 

This article may help paint a better picture. http://renolandinc.com/reno-construction-update-ne...There is a lot of construction happening such as renovations to major roadways, including a north to south connector that recently opened and revitalization of downtown areas in both Reno and Sparks.

On the side, for the past 12+ years, I've been a hammer-swinger for the two residences I own, doing literally everything except roofing (yep, everything, including plumbing, electrical, ductwork, flooring, demolition, framing, drywall, brick-laying, windows, cabinets...... etc).