Condo Rentals vs Single Family Houses

[Alexander L Gulledge]

Hi All,

I'm looking for a second rental property (my first is a single-family home and I was hoping to find another as a buy and hold investment) and with the current market, I'm having trouble finding deals that make since. Using the calculators and doing my own research, the SFH I find that would cash flow well (>$300/mo net) are all in less desirable areas. This is leading me to consider investing in Townhomes / Condos. The rent to price ratio is better for these and I'm seeing some that could make since. I'm just unsure of this asset class and have heard horror stories about dealing with HOA/Condo rules etc.. Wondering if Townhomes / Condos could be a good buy and hold investment? Im in the Columbia SC market. Any thoughts or advice would be greatly appreciated. Do any of you have townhome / condo investments? How has that worked out for you? Thanks!