What's usually covered under HOA and how would this affect your numbers when calculating maintenance and capEx when determining whether a potential property will cashflow?
Yes you answered your own question. Some condos the owner may be responsible for the furnace or hot water tank so you would just capex the remaining life. HOA fees usually have a portion that is delegated to a reserve funds so when capex projects are required on the building like roof, hvac etc.. which owners do not have to account for..
HOA fees is a cash flow killer.. You have no control over it and may increase quicker of a rate than your rent increases.