But some believe condos are riskier due to potential mismanagement of the community by the HOA.As an out of state buyer seeking a low risk/maintenance LTR, are there any glaring downsides to buying and renting out a condo? 

I'm actively seeking mentorship from someone with experience in similar markets who can shed more light on this process.

Readers should seek professional advice.

Through this journey, I’ve built strong relationships and developed valuable expertise in:Researching micromarkets and identifying comparables, potencial Accurately estimating construction or remodeling costs.Securing fast and reliable financing through partnerships with two top hard money lenders in Texas, offering competitive rates.I’m on this platform to connect with capital partners who are seeking an annual ROI of 12%-15%.

The best advice I can give you for seeking counsel in online forums is learn how to ask specific questions and provide as much detail as you can. 

Readers should seek professional advice.

Quote from @Greg Scott: LOL  Very creative.It could produce a windfall, or perhaps, massive IRS penalties.  

It's important to take the time to evaluate the goals and seek professional advice to ensure the right fit.

A prudent investor doesn't seek quick riches through shortcuts.

In the future you could add in penalties for being late and possibly a bonus for being early.