Not trying to pick a fight but in our portfolio, we can retire relatively young due to properties in an HOA and on 15 year loans.
Who has 30 years to wait while you are paying mostly interest each year and very little equity? If you can swing it, always 15 years because your cost of money is much cheaper not even considering the better interest.
As for the HOA, we bought four “attached” homes by KB Homes beginning in 2008 until around 2010. While appreciation has been fantastic, our 15 year loans have already paid down most of the mortgages. Properties I bought back in 2000 with 30 year loans still owe more and now I am having to dig deeper in my pockets for painting and roofs.
Local realtors who follow the phony “Rich Dad Poor Dad” all recommend not paying condo fees or HOA. If that fee covers your homeowners insurance along with siding and roof repairs and replacement it is a great deal as long as your numbers come together.
I don't see it as picking a fight- just a difference of opinion/experience. I tagged the HOA and 15yr loan specifically for the OP because given his/her purchase price and rent, at a 30 year without the extra HOA costs, the property looked at first blush like it would cash flow. With the extra PI and HOA, it doesn't.
While I do have one property with a HOA, I prefer ones without because it's a risk that I, personally, am uncomfortable with. All it takes is a HOA member with lots of time and a grudge and there could be new HOA rules regarding the percentage of units in the complex that can be rented. Or on the other end of the pendulum, an indifferent incompetent HOA board could result in a series of special assessments for big ticket items whose eventually is predictable and should have been budgeted for.
I'm not sure I follow your reasoning for the preference for 15 year mortgages. For me, property cash flow >>> not easily accessible equity. You mentioned "who has 30 years to wait." What is one waiting for? Untapped equity is nice but while a mortgage is still in affect, your cash flow is the same while the equity is sitting dead, not making you a dime. Why not pull out extra monthly cash flow from the property (the delta between the 15yr and 30yr) and invest that in index funds or another property?