Advice For After College (CONDO v.s. HOUSE)

[Charlie Krzysiak]

Hey you guys would love your advice below!

I am graduating college next December and am moving to Dallas to work full time. My brother currently lives in Dallas and pays an arm and a leg to rent an apartment (He is married so cant house hack). To me it does not seem worth it and would love to hop into real estate right out of school rather than pay crazy rent. Because of this, I have been running the numbers on many properties and doing my research in the Dallas area. I am from Dallas so I am familiar what areas would be considered "ideal". After my internship this summer I will have about 20k in the bank. 

However, upon research I have discovered it is really hard to find cash flowing HOUSES in good areas in my price range. 

What are your thoughts on condos as a first investment? I am finding some that are below 200k that are not that bad in condition. Are condos are good way to get your foot in the door? In my mind a condo will provide me:

-CAPEX is controlled by HOA (I only have to pay, not dedicate time)

-Low down payment

-Cheap financing payment

I plan to live there for 3-5 years and after could expect a NIAF around ($200). Is that really that bad if I will be getting equity and plan to live there for 3-5 years? Assuming rents will increase surely it will cash flow at some point correct? Also I know HOA fees can be outlandish.

Or, would you guys recommend me keeping my money in my pocket, getting a cheap apartment my first year of work, and watching for a 300-400k HOUSE while saving?

Clearly there is a lot of competition in the Dallas market. Do you guys think there is an option to find a property in my price range that will cash flow in a good part of town? I could also look at suburbs to find better deals. 

Thanks for input,

Charlie