type of property to buy for renting out.

[Brandon Morgan]

I am new to real estate and was originally planning on doing the house hacking method to get started but in my area getting a multifamily is nearly impossible nowadays. I am in NJ and I already got preapproved for a loan and have about 30k cash at this moment. should I go for a single family or condo for now instead since they're more available? are buying condos worth it? I am also applying to work remotely to see if that can get a remote job. I am open to any suggestions. 

[Julien Jeannot]

I agree with @Jimmy Bostic.

I'd shy away form Condos:

- They tend not to appreciate as fast of SFRs or multi

- HOA fees and assessment can eat you alive. I also see it as a reserve which you do not get back when you sell if unspent.

- Loss of control.

I got started with a multi where the cash flow subsidized my mortgage. I forced equity and raising rents and the rest is history. A solid SFR with rent by the room is also a great option. Find one that needs a lot of work.