What you would normally want to do is establish your own escrow account for Repairs/Maintenance, as well as Capital Expenditures for your rental.  

If you can't get cash out, consider the likelihood of your market appreciating further/bouncing back from where the market currently is, as well as whether you can do any value add to your properties to boost their values.

There are a few definite rules I follow when evaluating deals, as well as vetting sponsors/GP’s.

If it doesn't, you will need to have it inspected after closing - but by that time, you might as well have the contractor assess everything that needs to be done and re-allocate the budget if necessary.

And of course other income like salary income can also make up for the negative cash flow as well. 

I assume the lease also has costs you can charge back to remove the materials from the property as well.

Depending on the area I know people have success on craigslist as well but can be hit or miss

@Connor Heaton, I agree with Gino, that some HOAs cover exterior items, and some only cover certain items.But beyond, the specific items covered by this HOA, they will also want to understand how well funded the HOA currently is for items.  

Looks like you're well on your way to success.

In terms of comps and understanding both sales & lease deals, as well as what space might be available by tracking lease expirations, it is absolutely the best choice out there.