Your cash flow isn’t bad, work on maximizing that, save up, then buy the next one.

It's hideous.My tenants pay very good rent and also feel bad that they have to look at this.The fence goes along the entire backyard, and my yard is about half acre.What are my options?

For a little more detail...When I say the house is nicer than its surroundings, I mean that the bones, floorplan, and layout were all originally GREAT, but the cosmetics were in bad shape.

You do not want to be highly leveraged, that puts you in a bad position and will hurt you financially for more loans. 

A) Buy enough units to control the board or B) List the property and hope the buyer does not google your HOA which is probably like most and has been bad mouthed all over the internet.

There is never a bad thing about issuing one to someone who does not need one.

---------------------------The Bad News First------------------------------1)  I bought my first home on a 100% financed loan when I was 22. 

I’m not saying you have to take bad deals but what are you going to do if the market keeps climbing for 10 more years?

or bad credit?

We just moved on knowing it was pointless to waste time and energy on fighting the inevitable.