Look at buying a multifamily home, staying within your budget, or saving more for a bigger down payment.

It really depends on budget and area. 

Markets to look for: Without knowing your budget, it would be hard to say however, Florida is a very popular market for Canadian clients because of the positive cash flow and the ability to find affordable properties in high occupancy areas. 

I am looking at these options since both of these may be within the budget for my investment.Please let me know your thoughts ?

How big is the kitchen and what is your budget for the project? 

And preparing sellers to expect to have to make some repairs and budget accordingly. 

Looking at buying my first piece of property and finally found a condo I like in a great location, under budget but the HOA is stringent on rentals (all leases must be approved by HOA, approval process seems lengthy and min credit score is 700 FICO) should this be a deterrent for me in terms of buying this as rental property?

This is something to budget for when considering this type of rental.Management Intensity: Managing student rentals can be more hands-on, requiring stricter lease agreements, regular inspections, and sometimes dealing with noise complaints or other issues.Seasonal Vacancy Risk: There’s a risk of vacancies during summer months unless you find tenants who stay year-round or offer summer sublets.Zoning and Regulations: Some college towns have specific zoning laws or regulations regarding student housing, so it’s crucial to be aware of these and ensure your property complies.Tips for Success:Proximity to Campus: Properties close to the university are more desirable and can charge higher rents.Furnishing: Consider offering furnished rentals as students often do not have their own furniture.Strong Lease Agreement: Have a robust lease agreement that includes clauses for damages, noise, and other common issues.Hire a Property Manager: If managing the property becomes too time-consuming, a local property manager with experience in student rentals can be a great asset.Overall, student rentals can be a profitable investment with the right management and location.

@Brian Williams I know your working on a budget.

With the budget that you have, I think Cleveland or some of the mid west states might be a good option to buy another property.