Starting out advice on single family home vs condo/townhouse

[Matt Carroll]

Hi, I've grown up around the rental business as a kid and now at 36 yrs old looking to get into it myself. I'm located just north of Chattanooga TN. I'm looking at a couple of options for my first deal and mainly just considering rentals that are mostly ready to rent specifically to middle income tenants that can afford $900-1200/ monthly. I've looked at a couple of single family properties that have good tentants in place and good ROI numbers. I've put in a offer on one single family but if that doesn't work out I'm also considering a condo/townhouse that is near a local University. Margins would be a little tighter on the condo/townhouse.

My question is are there any advantages/disadvantages specifically comparing a town house to a single family home? 

Do condo/townhomes rent as good as a house? 

Or does it really just depend on location or other factors?