You risk going over and then you are no further ahead if you sell.If you do renos and rent it for $300-400 a month more, it will take you more than 5 years to get the reno money back.

Today, I analyzed over 10 condos, and while I found one with a positive cash-on-cash return, it was far from impressive.I’d love to hear from experienced condo investors about why this type of real estate might make sense despite the low cash-on-cash returns and HOA fees that cannot be influenced.As a bonus, if anyone has purchased investment properties for their children with a similar goal, I’d really appreciate any insights about your process or results.I am looking at buying 2 investment condos for my children to pay for their college tuition in 13-15 years.

We have a 14-page management contract that we've added our real experiences to over the years, with the intent of protecting both us AND the landlord.

My suggestion is to continue being active on BP, get out to some networking events and seminars and also educate yourself through books and podcasts. 

Unfortunately, you have no power over the tenant until you own the property.

That is how I've operated for years, well before the NAR fiasco and as agents, we have always been advised from referring to status quo, standard, typical, etc when it relates to commissions.It continues to amaze me how many buyers/investors believe the agent value is finding them "deals."

The closest analogy I can make here is when someone "takes over payments" on a vehicle.  

So today as I stated when i started over..

I currently self-manage three properties in the Atlanta metro area and have learned a ton through trial and error over the years.

I have been in Austin for over 15 years and am familiar with the area.