When we have investors approach us about a purchasing a condo as an investment, we steer them towards a townhome, preferably with a pool, if their budget permits.

You can also reach out to people coming to the area on FF and see when they want to come to the area and their budget. 

Anything that exceeds the current budget becomes a special assessment split between all the owners of the property.  

You could probably afford $20,000 without much impact on your budget.

B grade property walks are attended by my children to run around and tell me which bedrooms they would pick if it was their home.43605, 43608, 43609 are the popular zipcodes for bottom-budget value purchases...I manage a ton in these areas and my personal portfolio contained over 40 43608 properties at the peak. 20% of these properties will be crazy money earners, 20% will be astounding money pits, and 60% will fare average.I have evolved into the nicer 43612/43613 for my personal portfolio and find the properties earn consistently and far smoother than my 43608 houses. ($80k renting for $1200 vs $40k renting for $800 multiplied by the ratio above vs boring consistency of the nicer area) Oh and I have zero excitement for apartments.

With this type of structure, as soon as you are done with the work completed, you submit the budget for the purpose of rationalizing the massive increase in value in a short period of time rather than leveraging it in an LTC calculation that will cap your cash out proceeds.

Just a heads up, though, finding those dream deals might be trickier nowadays, so be ready to invest a bit more upfront.Also Keep an eye on your budget as you scale up.

This was actually not the case and on a 300k construction budget you can imagine how many headaches, loss of time, and money this caused.

Consider your budget, savings plan, credit profile, and financing options.

Then, you decide on the combination of these finishes that works best for your taste and budget.