Does it make sense to rent vs buy a condo/house in Los Angeles?

[Julia Fong]

My rent in LA is currently $1600 a month for the master in a 2bedroom, but I'm sick of renting, interest rates are low, and I desire additional opportunities for passive income so I am looking to buy a property to own and live in. My parents are generously offering to help with paying a chunk of my 20% down payment. We are willing to go up to $800K or so, if the place is worth it and the numbers make sense. I am able to pay the monthly payments on my own.

I'm looking at areas close-ish to West LA with high potential for growth and appreciation. My intention is to stay in LA for at least a few years while living there, and am open to renting it out at some point, before later selling.

I know that appreciation-wise, the order goes like: 1bd condo < 2bd condo < single family residence. Since it is just me, I would prefer a 1bd condo, but would it be a mistake to do so given that appreciation rate is lower and renting out a 1bd is more difficult? Also I hear that HOAs can be notoriously difficult.