@Jay Hinrichs shout out to you too Jay!

This would let you rent out the house for the next 3 years if you wanted and still get to take the gain.  

There are a couple of companies out there that will let you do a cash out refinance with no income!

I've been buying SFH's out of state all cash as long term hold rentals.  

We are both out of state investors.

A well written management contract should clearly spell out what is expected of both the PMC and the owner, to PROTECT both and avoid misunderstandings.

If I rent it out, I'll be hiring a property manager because I don't want to deal with trying to manage it from out of state.Some numbers:Purchased with 0% down VA loanPurchase Price: 189KMortgage: 172KRate: 2.25%4 Bed / 2.5 Bath~2400sq/ftBuilt in 1992Zillow Sales Estimate: 280KZillow Rent Estimate: 2,100/moRoof and AC are less than 10 years old.

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? 

It sounds like what you really need is a handyman that you could send out when you need for on the ground maintenance.

Why not just buy a new primary and rent out your current home.