because the paper will be a C grade at best.Lenders get in trouble when they hold too many loans on the books, can't sell them, no one wants them and then while your books are over leveraged the market takes a stiff downturn and now as a lender loans you hold start defaulting and people missing payments. 

You’d be praying to break even each year, but soon as you add the stiff  HOA fees and assessments, you’re underwater quick, no pun intended. 

@Steven Bays ok, sounds like taxes are pretty stiff in your area.

In this case, buyers will be scarce as they run the risk of being compelled to restore the building to a SFR.In short, your friend will likely encounter a stiff headwind selling this property.

I've inherited this type of tenant before.She's going to stiff you, and the city on the water bill.

When you purchase a home with a HOA you agree to all their rules, or else you will feel stiff consequences- and the law is on the HOA's side, as you were given notice before purchase.Does that help?

I'm just saying they can be had.The opportunities are found when you start shopping outside of the MLS where you have very stiff competition. 

So it may only be the avg W-2 stiffs who will feel the pain as they lose their jobs tied to brick & mortar locations to those with foresight to successfully transition to virtual/mobile work environments. 

You have a big jump on where I was, because the money I lost was many years ago, when money was worth much more, and I was a blue-collar working stiff making not very much money.

The first 3 - 4 days we had them we thought they were pretty stiff BUT we slept great!