Its a combination of what they're owed, plus late fees and legal fees. 

Thanks @Josh Stack, my focus so far has been on comparing different markets at a high level.

If this is such as major issue that they sent a letter around, and they feel everyone should do it, then the best way to make sure it's done is they make it building wide project.When they do these projects however, they either increase the monthly fees for everyone, or do a one time assessment charge.

Money is cheap but with a $650/month rent I start to question the value of the home, size the loan, etc. and it it’s with the hassle, fees, etc.

This plus the fact that the building is in a rather poor state leads me to believe that the revenue from the HOA fees and coined operated laundry machines may be going in someone's pocket rather than in maintaining the building.

The issue many here at BP have with this marketing ploy is that regardless of whether any deals are subsequently found, there is significant coaching/training/education fees, upfront!

However, according to the Florida Department of State webstie, it does require each LLC to pay a $125 initial filing fee, plus an additional $138.75 annual fee (as part of the annual report you would have to file). 

(i.e. there's still some risk, stress, etc. involved) Not to mention that paying 10% + leasing fees "goes up my bum sideways!

Monthly fee is cheap and you get good education at first.You ned to learn a lot of stuff at first.Remax was my first choice and it sucked, sobad never again.You can change it to a smaller brokerage once you learn everything.Real Estate License is expensive.

The home does not pay a HOA fee nor do we have a HOA that governs this neighborhood.