Is buying a single condo unit to rent a good place to start?

[Trisha Racho]

My husband and I want to start investing in real estate but we live in an expensive market. We have enough money for a down-payment but on top of our own personal mortgage, we are unable to afford a multi-family property and also don't have experience as landlords. We're trying to determine the best first step and are considering a single unit, unoccupied apartment/condo. Ideally, we would like to make a local purchase in Fairfield County, CT. 

Is this a good idea or are there any other avenues that may yield a higher ROI?

[Anthony Dooley]

@Trisha Racho I personally would not recommend condos, mainly because of the HOA. Fees and unexpected special assessments can wreck your projected cash flow. Secondly, make sure you are buying property under market value, typically distressed and in need of repairs. If you buy something at market value, you will not make any money after expenses. Do your math and stick to it. Good luck.