I've built a 9 door portfolio there and I'm happy with my investments.

I'm in Raleigh NC and new construction is hot on the outskirts, but the core of out city is built out.

We built our residence in 2008 and man I should've built 5 then!

I will add that the rental prices of condos tend to be more similar to multi-family housing than SFH and in the greater Phoenix MSA a lot of new multi-family units have been built in the past couple years with more on the way, so rents have softened.

So make sure you have some cash reserves built up. 

Looking to learn the foundations of investing, DIY renovations and profit-making.  

Make sure to inspect all the major systems thoroughly (HVAC, plumbing, foundations, roof, electrical) and make sure you know what they look like today.

Once you have that foundation, you can start leveraging the equity in your existing properties or look at financing options to expand.

Btw, right now I'm still using a self-built Excel spreadsheet that works just fine for me.

Does HOA have loss of income insurance or some fund to make up the losses until owners get property rehabbed or built?