Whether to buy a SFH or Apartment or Condo unit while investing out of state

[Megha Sharma]

I live in California (North Bay region) and I own a SFH here and I am planning to invest out of state. I have a budget of around $250k. I'am considering Arizona , Nevada or North Carolina for investment . Which among three ( townhouse or condo or SFH) is better for appreciation and cash flow and property management will cost low among three? I'am considering these states as property tax and tax are low in the states and my husband did his graduation from Arizona and Nevada is closer to where i live and North Carolina is in my mind without any specific reason:) .

I and my husband does not have any relatives or friends in any of the states, so we don't have pretty much any idea about the market in any of the states. We are doing  online research about the market and decided t invest in these three states, and if we find any good deals we may invest another $200k in the market in the coming months. Is it a good idea to buy a duplex as a first investment or different real estate properties ?

[Megha Sharma]

Quote from @Bradley Buxton:

@Megha Sharma

There are pros and cons for each. Condos have HOAs which can be good for landlords because the keep the outside of the building, landscaping, and rules to keep tenants from making their own "yard art". Downside is HOA fees can increase at anytime or rules put in place you might object to or that don't fit your strategy. You also have to deal with different personality types that run the HOA. Single family you have fewer rules and more control and all the responsibility. Both can have large capital expenditures in the form of special assessments for a condo or major repairs with a SFH.

If you're thinking of Nevada the Reno market is very strong with appreciation and close enough to the Bay area to reach in a day.  There are multiple options and strategies you can deploy in the area. Happy to share knowledge and references. 

 I'm thinking of Reno or Carson city, would definitely like to know more about the market over there. Thanks