Pros and Cons to flipping a distressed Condo / town-home vs SFR

[Kevin Ely]

Th average SFR distressed in San Diego can be quite high (often more than $500k which also often means higher returns post rehab) but condos / town-homes are not as expensive ($150k-$250k) and as such, are more attractive for someone relatively new to the game AND using a HML versus all cash. What advice can you give in flipping a condo vs a single family residence? Pros and Cons? I see an HOA as a major Con possibly prolonging the process digging into profitability. Anything else to look out for?