Coordinating utilities, asking for and receiving tax abatements, assessing liability insurance amounts, permits, licenses, etc?

I am not a Rabbit in this race, and I have been classified as a Turtle in personality assessments, so I am happy with slow deliberate steps and a continued solid progress.

Your analysis better include a realistic assessment of expense (and vacancy and capital) if you expect to be in this for the long haul.If you do self-manage, you can collect the fees a PM would charge for yourself.

takes 6 people to be able to move that fast (at least with our process). 1 guy working market analysis & value1 guy working proforma1 guy at auction bidding / researching title1 guy in office double checking title work of guy at auction1 guy working the phone to determine special assessments / property issues1 asset manager watching everything we are a machine!

The cost to repair these items is then allocated for over the time to failure, doing this will hopefully prevent a large special assessment when these failures or replacements are needed.Obviously, something major happened happened in order for your HOA due to rise 70%, but this board is obligated to present this to the members and detail all expenses and/or future expenses that these funds will be used for.Also, you mentioned that the HOA was recently formed by the community.

Exterminators are cheap.The Cape does have some crazy assessments, but that is usually reflected in the price.

Now let's look at renting:Let's guess that "market rent" for this house is $750.You got 58K in cash already invested, plus the annual property taxes, insurance and the ongoing possibility of major repairs, future tenant damage, vacancy periods, possible future assessments, future code violations, etc.

Also they can have assessments that you are required to pay for, they repave the parking lot, you pay for it, even if you didnt want it.Condos are harder to rent, harder to keep full, and generally rent for less, its basically renting an apartment. people tend to rent houses for longer periods of time then condos.That being said I KNOW there are some condos deals in vegas, and I think for your situation I'd be very active in looking for a deal right now, you could move into for a few years, and hopefully sell with the market somewhat recovers and make some money.

Assessments are a best guess in my opinion, and until you have a buyer, you can't be certain what the asset is worth...

Based on my math, your payments are about $250 to $300 and I'm guessing taxes and insurance might be another $300 or $400 (assuming the assessments are still pegged to boom prices as most counties here are still at).