Should I invest in a 4-plex in Arizona?

[Aria Jackson]

I'm starting some research on buying a 4-plex community in the Phoenix or Scottsdale area. Has anyone on this forum bought a similar property out here? Is it better to buy a 4-plex, or would just buying out individual units in a condo communities around the valley be a better investment? Like I said, I'm in the beginning stages of this train, I'm just curious as to other investor's experiences in this market. I know that if I go out of state to invest it's cheaper, but I'd like to start local if possible :) Thank you in advance for your input!

[Andrew Johnson]

Aria Jackson I don't know much about Phoenix but condos come with an HOA. Lenders sometimes don't want to lend if there are 51% renters in a condo. If you decide you want to do a short-term rental the condo HOA might now allow it (even if Phoenix/Scottsdale/etc. do). So basically, HOAs cost money and *can* be limiting. That said, they are probably more liquid if you needed to sell one.