Came back to find out that we had missed a governing document in the HOA that mandated the home was owner-occupied for a period of one year, then it had to be approved, and the rental cap was a low 7.5%! 

I complained to the HOA not sure what the HOA did , but they are no longer there.

While it's all negotiable, I've never had an HOA settle or discount assessment liens.

All homeowners pay HOA fees towards that, occupants and investors alike.

Hi @Erin A and @Elizabeth Colegrove1)The condo market in my area is not too bad but the HOA fees are pretty steep but not un doable.I have read that its best to stay away from a condo bc you have no control over escalating HOA fees which can really put a damper on your cash flow.This is something i might have to investigate more…..2) My issue with a condo or a single family is selling the idea to my wife…..

HOA fees.This would include all fees and assessment.Interest.Specifically as it relates to mortgage loans secured by the property.Legal & professional fees.

This relates back to another discussion I had a week or so ago regarding hoa liens in Florida.

(Pay mortgage insurance).Rental income $1295Annual HOA Fee of $35019 years left on mortgageBuilt in 1986 and have done some repairs to AC and roof but neither replaced.

Great school district, close to the city downtown area, very close to train station leading into Chicago.Asking $179,900 (way over priced)Offer: $115k (comps suggest similar properties have sold for $111k and $127k)Down payment: $8,000Taxes: $3000; HOA: $125/moImprovements needed: ~$15k (flooring, paint, cabinets, appliances)Vacancy: 1400 (one months rent)Maintenance/repairs: $100/mo (budgeting for $1200 annually)Potential Rent: $1300-$1500/moUtilities: would be paid by potential tenantInsurance / Private Mortgage Insurance: $1500 combined (would hopefully refinance after repairs to get LTV of under 80%)Would self-manage to add to cashflow.Please let me know if I am missing something or if my numbers seem off.

This year again my property tax, HOA, insurance all have gone up and I need to increase the rent to make up for the difference.