It is really up to you, I think if you want to screen each one and you give them notice of the ownership change that's 1000% valid.

Condos are unique real estate investments because a huge part of the value is determined by property that is under common ownership and which the unit ow er may have little control.  

Here in Florida it's now a felony and they are targeting wholesalers.Being a "middle man" to a real estate transaction that you do not have ownership in and are going to make money on the transaction...is essentially a really good description of a licensed real estate agent. 

It can be easier to sell SFR down the road and they tend to appreciate faster.On the flip side, however, finding a good duplex and a good dependable tenant can significantly offset ownership costs.

For example:Single Family:Less Money to PurchaseDon't have to pay any utilitiesSometimes a higher class of tenant who will take more of an "ownership" mentalityBetter LiquidityMulti-FamilyEconomies of ScaleLess Risk of Vacancy or Economic Vacancy Because it isn't all or nothingLess Difficult to manage (than say multiple properties)In my opinion, unless you are focusing on large properties, you go where the deals are, regardless of whether they are multi-family or single-family.

There will be a lot of knowledgeable folks there that can talk to you about the local market as well as REI in general.As for doing long distance property ownership the key thing is you need to find a good property manager.

As far as I am aware the change in ownership has occurred and the deed lodged with the county.

By putting the property in a land trust with the owner as Trustee, the bank or his lender can not call the loan due and at the same time, by you being a beneficial interest in the trust, you have ownership interest in the property (technically, you have interest in the trust that owns the property).Still another way to do it is by you getting an Option to Purchase on the property where the renovation cost is your option fee and to protect yourself, you get a Memorandum of Option recorded.

While real estate doesn’t have to be rocket science, neither is it necessarily true that even an experienced investor can take ownership of a piece of property without needing to wade through negotiations and the finer points of the deal.Some deals, however, are inherently simpler; skipping the need to come to terms on things that might be fixed or improved or covered by the seller before the buyer takes possession.

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