I understand doing an initial BRRRR on a low cost property so my subsequent information is something to ponder possibly only for future consideration.  

This is very relevant in my considerations!  

.: Investing out of state is a smart idea, however you'll need to put in a significant amount of time in research and will need a considerable amount of trust in your contractor/team to ensure work is getting done in a timely and effective manner. 

Its not without hassle though, that's an important distinction, tuckpointing, brick sealing, and potential wall separation/collapse are always considerations. 

Are there specific considerations I should be aware of about the condo market in Stamford? 

The zip code likely appeals to families looking for more space than a condo or townhome provides.Here is a chart showing the price per square foot ($/sq ft) for home sales in San Jose zip code 95111 over time, based on the data provided:DateMedian $/sq ftDec 2022$719Jan 2023$711Feb 2023$703Mar 2023$620Apr 2023$754May 2023$689Jun 2023$728Jul 2023$746Aug 2023$778Sep 2023$722Oct 2023$844Nov 2023$690Dec 2023$868Jan 2024$962Feb 2024$816Mar 2024$901Apr 2024$882May 2024$985A few key observations:The median price per square foot has generally trended upward over the 1.5 year period, from around $700/sq ft in late 2022 to nearly $1,000/sq ft by May 2024.There is some month-to-month variability, with dips in certain months like March 2023 ($620/sq ft) followed by recoveries.The highest median $/sq ft was in May 2024 at $985/sq ft, while the lowest was $620/sq ft in March 2023.Over the full period, the median price per square foot increased by about 37%, indicating significant price appreciation in this area.So in summary, the price per square foot data shows home values in zip code 95111 have climbed considerably from December 2022 to May 2024, though not in a straight line.

Consider the time, effort, and expense to develop a concept plan to include site drawings, home types, homes per acre, site storm water retention plan, tree save areas, conservation areas, wetland setbacks, time considerations for meetings with county land use planners, negotiating easements for utilities, rezoning meetings with county council, revisions to your plans to meet demands of neighbors, planners and/or county council, and hopefully getting a final approval for your project.

The only other consideration might be if your client considers managing 2 significantly different than 1.

NACA was formed in 1988 and provides an affordable option for potential first-time buyers:✅ No down payment✅ No closing costs or fees✅ No mortgage insurance✅ No consideration of credit score✅ Below market fixed interest rateThere are several requirements to be eligible, starting with attending one of their workshops.https://www.naca.com

Some properties, especially those with Accessory Dwelling Units (ADUs), provide opportunity to break even or cashflow with lower down payments.Out of state (as well as Upstate NY) investing is appealing when taking this all into consideration.