If the seller says repair estimate is 20k it is more likely 35k; and then there is that certificate of rentability you need to get-don't imagine that's too big a deal; but it could be.The tenant class in these types of accommodations are typically much higher maintenance and way more wear and tear.

Great to know @Benjamin Lapidus as a participant in a few HOAs I can't imagine the role in managing them!

I have to imagine that there is a reason, but as a newbie, I can't figure out what it is. 

I have been a professional software developer for 20 years now, and absolutely love technology and programming, but I'm looking for something to spark that imagination and wonder again, and building and construction seems to be doing that.

This one says "6 beds"I imagine this is a gray area where some experience will make it clear.

I used to be a very caring landlord,responsive and of course proposing a great house in Good condition,but for 2 years I was almost not sleeping at night thinking an accident/personal injury/mold related health issue could happen and consequence of this would be them suing me for eventual High medical bills or else,which could mean losing one or more of my single family homes as they were all under my personal name,The point of my post is that it seems you cannot follow a "by the book equation" that would 100% prevent you from this to happenOkay I had the biggest umbrella policy up to 5 Million in coverage,but I have a limited trust into insurance companies,I can easily imagine them finding a way to not cover the problem if needed with some clausesI always was specially paranoid about MOLD,especially with the houses being in Florida,although the premises seemed to be totally ok at move in,you will always be told that there are some mold in houses in general,so the situation could quickly change without you noticing even with constant control,I add a very nice old couple as tenants but at one point they were telling me they had health problems because AC was not working for a day in order to have it fixed quick(of course as usual I respond or act fast to resolve the issue but this just ringed to my mind what could happen if they would get very ill and need to pay a crazy medical bill...)

I only focus on my clients websites and here are my daily results:I only say "5%" because I can't help myself while on the pooper, whipping out my phone (don't ask from where)... and check out the leads coming in, while I do this really really weird evil maniacal cackle.Can you imagine  standing on the outside hearing that coming from the bathroom.It's great!

If you think a downturn is coming in less than a year, imagine how much worse it will be when people in the complex default and stop making payments and banks start selling off the units at auction

@Richard R LindbergThat’s a good point too, I have excellent credit so I imagine I can do better on that rate now.

I imagine myself 10 years in the future lamenting the fact that I was too chicken to pull the trigger and make the deal.Yes, there are a lot of unknowns in any deal so "doing the math" is of questionable use.