Owning rentals. condo vs. Single family cash flow.

[Brandon Morgan]

Hi all, my plan is to own rentals long term and receive cash flow. does it matter if I go for a single family or Condo? assuming the condo unit lets me rent it out. my plan is to live in the condo/ SFR for a year and then rent it since I already got approved for an FHA loan. right now it is looking like the condo might be a better option for me considering my area in jersey and the location of the condos. depending on the HAO fees I feel the cash flow may be better with the condo. Any suggestions or personal experiences in this?

if I get a SFR I am looking at the Monmouth and Middlesex county areas of jersey. but for a condo I am going to go for the Essex county/ city like areas of jersey near the train and NYC.

I made a few post with similar questions but I am trying to think of this from multiple aspects. 

[Charles Carillo]

@Brandon Morgan

Purchasing a condo vs. a single-family home, offers another level of complexity, especially if you are trying to rent it out. You have to perform your due diligence on not only the unit but also the HOA. You want to make sure you can rent, make sure they have reserves, etc. I would also want to avoid buildings that are mostly (or a larger portion) investors. Investor condo buildings are notorious for having a lot of deferred maintenance, and not enough reserves.