Multi-family vs. Condo investing in South Florida

[Scott DeLuca]

Hi all - I just made a BP account after reading a couple books and listening to a ton of podcasts.  I currently live in Orlando, FL, but may be moving down to South Florida (where I grew up) soon to take a job. 

I am looking to buy my first home/investment purchase when I move down there. Ideally, I want to house hack a multi-family home in the Fort Lauderdale / Dania / Hollywood Beach area. While sifting through the forums, I saw quite a few posts mentioning that multi-families in that area are tough.....often overpriced and tough to get a good return. I saw several people mention they are investing in condos rather than multi-families.  

I was curious to see what types of properties others in the area are investing in? Also, what types of condos make a good investment?  From looking on realtor.com, I have noticed that many condos on/near Hollywood and Fort Lauderdale beach are outdated and need some renovation. Have any condo investors explored that?