I did factor in 7% vacancy rate, taxes, HOAS, insurance and monthly reserves for maintenance.

The HOA has accrued legal fees to send you a collection notice/ skip trace fee/ lien filing fee (possibly) and HOA account review.

The school district is not as good as the Property B.Purchase Price: $184k ($35k down, and need about $3k in renovation)Monthly payment: $1,309 (tax rate: 2.9%, $10 HOA)Expected rent: $650 per room (4 bd total)Total Monthly income expected: $2200 (estimated maintenance cost of $400)ROI on original investment: 28%--------------------Property A: 4bd/3bthLocation: Austin, TX (wells branch area)This area sees 6.78% appreciation past 5 years.

You have to know the rules of each HOA before purchasing.

The desert have many mobilehome communities, however, there are a few that are managed well by their HOA and are popular with seasonal and annual residents.

I also had no idea at the time that management companies would do more than management and so to have a funnel ushering unsuspecting landlords into a bind to force a sale out of them to then list it on the market (but I'm glad to have found this out before getting interested in Real Estate myself that's for sure, I can't say my landlord didn't deserve it – as he too is a crook lol falsely claiming the rental was his "primary residence" this entire time and thereby never registering it with the HOA here). 

We average $3500 a month and minus HOA of $446, we clear $3k a month.

They are also the chief litigators for HOA's delinquencies.

Lender's basic qualification rule: Principle, interest, taxes, insurance, HOA, PLUS any other debts, should generally not be more than 45% of your pretax (gross) income.  

Usually you have to deal with HOA and other associations when you deal with a condo and townhouse, which some times it makes it unpredictable for an investor to foresee special assessment or raising costs.