You're entirely at the mercy of the condo board, which could completely restrict your ability to rent at any time.

I work with several nationwide wholesale lenders that offer these loan programs but as the previous poster pointed out, they come with different features and restrictions. 

Look at the number of rentals, restrictions, occupancy rates and run your own numbers on what it might do. 

Those can do very well as long as HOAs dont restrict them.

They are also both just over the County line in Yuba County where there are virtually no short-term rental restrictions (we were Airbnb'ing the larger house for a while and averaging $4-5k per month).8911 and 8917 state highway 20 smartsville

I am not sure of the laws for NYC, but that may not even be a legal option depending on their restrictions. 

I have had several investors leave North Canton because of the new restrictions but I have not heard any bad stories about Canton.

Washoe County on the NV side is pretty lightly regulated with no cap or density restrictions on STR permits. 

The only restriction they had when I took it out was that you couldn't have more than 3 investment properties in your name.

Nonetheless, it also carries certain risks such as nonpayment, restricted liquidity, and potential legal intricacies.