Hello Everyone,I'm looking to buy an investment property in New Jersey, I was looking for condominiums because they are selling for around $150,000.00 for one bedroom, and to purchase a multifamily with 4 apartments in this area will cost somewhere around $800,000.00, so basically, through the years I did not get to any investment that required a significant investment because I did not want to carry a large debt and I don't have a large sum to put as down payment.So my hesitations about purchasing a multiunits are as follow:I don't want to carry a large debt.I like to buy the next property in New Jersey because I'm familiar with the location.I'm aware that the purchase price is high, and I'm unable or I'm reluctant to invest, so I may be in need to consider a new location to invest in.I hope that some of you  who experienced the same "problems" can share your experience and how you wore able to invest successfully.Thanks,DanielDaniel

@Mike Dawson- there are LLPA ( loan level pricing  adj )  for   1) property being a rental  2) loan to  value  3) property being a condo  4) possibly for the  condo tel aspect  ..... all these  lead to  rate/ term  pricing being  higher ...many lenders  wont  lend on condo tels ......the lenders  able to  lend on  condotels  will  likely price their loans  high as  they have a  bit of a captive  market  ....I  would  recommend  trying to  find the lenders  that have  made loans in the  subject complex and  contract these  lenders for options  

If you have a piece of a single place, like a condo complex in a ski area or beach area that is one thing.

There they do a good job managing the complex, but condo fees are higher as it includes all utilities-great for the tenants, but they don't seem to factor that in when they see the price of rent.

While I see brand new complexes being built all over the country, the prices don’t reflect the communities they reside in.

Investment Info:Large multi-family (5+ units) other investment Limited Partner in an apartment complex syndicationWhat made you interested in investing in this type of deal?

I am looking to purchase an apartment complex in Los Angeles.

With some of the latest news stories for apartment complex fires etc., it doesn't seem so, but...I also know there's a legal option to let the tenant break the lease without penalty and move somewhere else, but they may not want to depending on the situation.I do have a somewhat vague, but contradictory clause that waives my liability for all uninhabitability claims in the lease.

I decided against it not because of their platform, but because I'm trying to automate and simplify and adding additional rental options added administrative complexity. 

Out of state investing can be tricky to navigate and takes a team who are experienced and know how to navigate those complexities.