My family lives in the Bay Area and have the following properties:1.) 5-bedroom SFH (their current home) - comps for similar houses in area are around $2 mil, mortgage is paid off, old house and needs major work if they were to sell2.) 2-bedroom Condo –comps are around $600k, still have $300k remaining in mortgage, currently leasing it out for $2500/month which just barely covers the mortgage payment + HOA, in pretty good condition and needs very little work to sell3.) 3-bedroom SFH – unoccupied and worth about $1 mil+ according to comps, used to take in about $3000/month from previous tenant, needs major work before selling ($200k+) Does anyone have any thoughts on these properties and some general advice on what they should do?

I'm wondering if you were to have a do over when you were about to buy the home that you currently live, would you have paid what you paid for the house in community that you live in or paid more for a similar house in a zero maintenance cost community and the house was a zero energy grid ready home (This means you will have little to no electric or water bills every month on top of NO HOA fees)? 

The tenant, a trusted friend, will pay HOA fees ($181/mo) and property taxes ($1000/year).

Utility bills, lawn care, and HOA fees all add up.

Was told that inspection was done already by HOA which was a lie.

Check with your HOA rules also.

You will need to send the tenant copies of all invoices from contractors doing repairs and from the HOA for the move out fee.

Asking price: listed as "investor special" at $75,000ARV is around: $150-160K (recent comps are coming in around 150=155k)HOA: $350Rents w/in the condo complex range between $1,195 on the low end up to $1,400Do compete w/other investors who will probably be chomping at this bit for this place, we'll need to contact a hard money lender who will help us with the funds needed.Any tips on the best way to proceed here would be most welcome!

Interestingly, an HOA owned this one. 

Fixed cost like HOA should be included as part of the rent.