Townhouse with no HOA fee?
I've found a great townhouse in a great location.
This townhouse meets my general criteria (2% rule, 50% rule etc.) and does not have any HOA fee. So, any repair (exterior walls, roof etc.) would be my responsibility.
I am a buy and hold investor and have never invested in a townhouse before (only SFHs).
My question is this; do you think the fact that this house has no HOA fee is going to be a problem down the road. For example, I spend money to keep the property well maintained and look nice, and my neighbor defers any maintenance etc.?
Also, being an out-of-state investor, I cannot be actively involved in the HOA. Do you think it will be a problem in the future because HOA may impose some crazy restrictions (no renter or start charging an excessive HOA fee etc.)?
Any other things I should be mindful of when I purchase a townhouse?