Thoughts on condo investments?

[Brian Ellis]

I just closed on a condo.

163k purchase price 

5k in renovations (diyer) 

Rent $1700 

COC return = 14%

The only downside here is there won’t be much appreciation. It’s a small purchase price for my area. So I figured it’s a good hedge against inflation and at least my savings is bringing me a return. I also removed my ability to invest in larger deals shall one come along. 

What is everyone’s experience with condos as an investment?