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  1. Rental demand depends on location
    You should check what the HOA covers (the property owner is responsible for paying it). For bombs, the HOA is really profitable, especially if it includes water and electricity, etc. - this makes it more attractive to a tenant who knows in advance how much he will pay for renting water and electricity.
    The HOA usually also covers a building and roof so it saves the property owner a headache.

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