High HOA fees and 6% taxes need advice

[Nailah Williams]

I am buying my first property. I found 1 that's about 30k in Columbia SC. rehab would be between 5-10k. Contacted the realtor and he told me the HOA is about 350 per month. Yes high. They only have a community pool. He also told me I would have to pay a 6% yearly tax since I would not be living there. So right off I would be out 500 bucks. I can safely rent for 950. I am paying cash but would like to BRRR. the reason I picked this is because it's a townhome so I don't have to worry about the roof/ foundation/ or other structural issues. Can someone give me some advice?

[Keith A.]

Does the HOA even allow you to rent the property if you buy it?? Many HOAs are run by people that get high off of authority and pass bylaws stating it can't be used as a lease or you must live in it for x amount of years before you can lease it. Nothing like other people telling you what to do with your own property.