Saint Paul, MN home/future condo

[Nick Oberle]

Hello BiggerPockets community! I am new to the BiggerPockets forum. I am seeking opinions from those willing to provide one. I sold my house and am looking to buy a condo downtown St. Paul. I am looking in the $200K range and will be paying cash for the condo. The goal would be in the next couple years turn the condo into a rental and purchase another and continue this cycle. I am a buy and hold type of investor. I do have a great full time job that pays me exceptionally well and am not looking to quit my job, just start generating passive income. I understand the idea that HOA’s kill cash flow and can increase at any moment for less than good reasons. I also understand you relinquish some control of your investment. I like that condo complexes have numerous owners that can act as babysitters for tenants, at least that has been my experience in past condos I’ve owned. Since I have a full time job I don’t have time to oversee everything involved in real estate investment so I will also likely hire a management company. Please poke holes in my idea and pick it apart, I won’t be offended if you think this is the dumbest idea in real estate investing. Thank you in advance for expressing your opinion. Best Regards, Nick