Should my father in law rent out his condo or sell?

[Sean Starkey]

My father in law has a condo on 400 west ocean blvd in Long Beach just a view of the street no ocean. He just purchased another condo that he will live out of that's on the 16th floor with the view he wants. He is thinking about keeping the first condo he bought and renting it out to long term tenants. Thoughts? HOA is crazy at $1000 per month and mortgage is $5200 without HOA. What are some investors seeing in Long Beach area for renting condos? He may use a property manager what percentage would they take monthly? This is definitely not a route I would ever take investing in a situation/location like this. I am just asking to provide insight to my father in law and learn as well from all of you!

[Glen Wiley]

Sell.

I am really concerned about trends I have seen in Florida where condos are being shut down due to unpayable costs/assessments, the building gets torn down and then a new one rebuilt and the condo owners simply lose everything.

The idea of an HOA on sterroids makes me want to avoid them but then the added risk of shady tear downs makes me avoid condos like the plague.