With the mortgage payments, taxes, HOA, it is $1960/month plus $85 if we rent and use a property management company.  

HOA ranges from 150-300.  

Does this look like a good buy or should we be very careful about HOA fees and other expenses?

HOA fees and maintenance costs have to be paid.

There are a lot of properties available without HOA's.  

Hello friends,I'm looking at a 4-plex in the Houston area. it looks like i found one for $300,000 that produces a healthy amount of rent, even after the HOA. 

@Manuel PerezI feel like HOA foreclosures are misunderstood. 

I know I have to check for back HOA fee's.

If you live in a Deed Restricted neighborhood, you are at the mercy of your HOA?

The comps on the condos are at $120k each.My reasoning is that the condos have a $160/month HOA with each of them so I am taking a hit on my income every month, which I would not be on the four-plex.