Is a condo a good rental investment (first investment)?

[Jamie Derasmo]

Hi everyone! I think I'm ready to make my first offer on my first rental property in North Providence, RI. It's a 2 bed, 1 bath unit in a relatively small condominium. After running the numbers using the awesome BP calculator, it looks like it will Cash Flow $200/month. My main concern here is after talking with the owner (my friend), she said there was previously a bad management company who didn't respond to owner concerns and who did not offer to pay for repairs that occurred outside of owner's control. For instance, this unit is the top floor. The roof partially caved in and damaged her ceiling. She paid for the repairs out of pocket and the management company refused to compensate her. HOWEVER, it is now under new management and they did compensate her for the repair price. So she said the management communication and upkeep is getting better. She said there is a leak in the apartment below her and the tenant and owner keep going to her to pay for repairs even though the leak seems to be stemming from poor flashing around their window. 

Big question: Is this a common issue in condominiums?