(unless you have an expensive HOA)

Here are the numbers, let me know what you would do....Condo - 3/2.5, 1950 sqft, good neighborhood, best school in the county etc....HOA fees: $145 a month...  

Add up all the expenses - vacancy loss, property taxes, insurance, maintenance, turn over, capex, management, utilities, HOA, administrative, legal etc...Rent - Expenses = NOINOI - Debt Service = ProfitI think in a conventional scenario this deal doesn't look very exciting.

I would only add that you should see whether there is an HOA.

Our mortgage/HOA is $980 a month and we charge $1625 a month for rent.

For the sake of discussion, assume that anti-fraud flipping guidelines are being adhered to religiously and the home being purchased is very low in cost, needing much renovation work, paid for in cash and not in a neighborhood with strict HOA guidelines.Thanks in advance.

I was curious about townhomes and single family homes that have HOA's as well.

Is it a condo with HOA? 

The HOA fee for the complex is about $350 and the rents for a 3 bed 3 bath in the area is about $2200 a month.This would be my first offer, am I overlooking anything?

My renter check with the HOA to confirm what I am telling him about community standards is true.