The whole thing seems like a scam to me on so many levels -1 ) The "arrears" are listed as a single line item on the bill with no explanation of how they were derived2 ) We have never ever received a bill for any of the previous years (except for last years fee of $60)3 ) There are no minutes or any information about their policies or decisions on thier website4 ) I googled the "directors" of the homeowners association and they appear to be property investor types rather than local residents5 ) My wife was 13 when she received the land - whatever she signed (almost 30 years ago!!)

Perhaps you could tell us something about the properties that you own (single family?

It would have cost me $90 less if it were a single family home.

Thank you to all of you who share your expertise, experience and wisdom.I have been actively looking for my first investment property - single family home - and am having a hard time finding anything in my area that is far enough under market value to produce $100 after OE.

I am rather new to the game of real estate investing....I have done my homework and have found a great property to start with, I plan to purchase a single family residence on assignment and then sell it to other investors i know that will rehab the property to use as a rental property.

If you have enough properties (or a large enough single property) to make good use of employees, I feel it is the smartest way to operate...as long as you A) LIMIT the types of work (to minimize injury risk...a worker's comp experience mod increase can put you out of business); B) pay what is necessary to attract a WELL qualified employee (NOT your typical "handyman"); C) are an efficient project manager, or are willing to delegate that task to the employee...and generally support his decisions/timelines.If you try to micromanage...you will have turnover, which will be more costly than hiring a contractor.

very interesting - so for many people, after doing lots of residential singles, is the next obvious choice commercial?

.`(5) TERM OF MORTGAGE- The refinanced eligible mortgage to be insured shall--`(A) bear interest at a single rate that is fixed for the entire term of the mortgage; and`(B) have a maturity of not less than 30 years from the date of the beginning of amortization of such refinanced eligible mortgage.`(6) MAXIMUM LOAN AMOUNT- The principal obligation amount of the eligible mortgage to be insured shall not exceed 132 percent of the dollar amount limitation in effect for 2007 under section 305(a)(2) of the Federal Home Loan Mortgage Corporation Act (12 U.S.C. 1454(a)(2)) for a property of the applicable size.`(7) PROHIBITION ON SECOND LIENS- A mortgagor may not grant a new second lien on the mortgaged property during the first 5 years of the term of the mortgage insured under this section.`(8) APPRAISALS- Any appraisal conducted in connection with a mortgage insured under this section shall--`(A) be based on the current value of the property;`(B) be conducted in accordance with title XI of the Financial Institutions Reform, Recovery, and Enforcement Act of 1989 (12 U.S.C. 3331 et seq.)

There appears to be many single family homes available in this area so that is where I will probably start out.

:D On the other hand, I have had good response just simply acting as a single investor who buys for my own account, not affiliated with anyone.