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.

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."

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

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. 

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.

Personally, I follow this standard for every application I receive:- Income of at least 3 times the monthly rent (verified through the employer)- Credit score of 580+- Rental verification with past landlords (no outstanding balances, no late payments, and the property left in acceptable condition)- No history of collections, evictions, or criminal offenses- No overdue debt (except medical debt)This process has helped me place quality tenants over the years.

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