Investing in Condos to hold ideas

[Kevin Fletcher]

I've been doing research online and have seen some possible opportunities in buy and holding condos, maybe with a little rehab. Ive never owned a condo, so I was hoping that if anyone who had experience with them could let me know some of the pros and cons of this strategy. I'm seeing In my area I can buy some condos for around 60-70k and they are renting for 1100-1400 per month with HOA fees from 200-300 per month. I'm wondering about dealing with HOA's, if its difficult to do rehab, and any other feed back people may have is greatly appreciated.