Someone like Entera who underwrites deals off the MLS and sends them to you for purchase?

If your NOI is greater than the market, they'll work off your actuals.

I don't know for certain whether that is true, but it would certainly explain why duplexes continue to take off while there are no new fourplex neighborhoods anywhere. 

You can dive into the specifics of that here if you'd like to see why they jumped so high YoY.What I'm saying is, HOAs are a lower entry point of course, can be lucrative if you analyze the deals as traditional long term rentals....BUT, you ultimately have little to no control over specials assessments, HOA fee increases, and even rule and regulation changes that can impact your investment.

Some may be set up to handle a more "hands off" landlord and some are set up for a more hands on experience.

We've bought many fixers "off market" directly from homeowners, that are "pier & post" with no problems. 

To supercharge that gameplan you can find off-market opportunities.

I had a crazy incident where a huge section of the roof blew off in wind storm in May 2022.

Not $200/mo, $2400/year to go capture that in some worse off area and make your numbers work on year 1 & year 2 in a 10-20 year time horizon investment.

Would rather hold to collect rent with depreciation write offs and build wealth than sell to pay capital gains