A local property manager can handle tenant screening, maintenance, and rent collection, which is especially useful if you’re not living nearby.Legal and Regulatory Considerations:Local Laws: Be aware of local rental laws, including landlord-tenant laws, rent control regulations, and short-term rental ordinances if you consider Airbnb.HOA Rules: If the property is part of a homeowners association, review the HOA rules and regulations regarding rentals.Financial PlanningRental Income: Ensure that the projected rental income covers mortgage payments, property taxes, insurance, maintenance, and property management fees.Tax Implications: Understand the tax implications of owning a rental property, including potential deductions for mortgage interest, property taxes, repairs, and depreciation.

Is your DSCR ratio greater than 1-meaning are you cash flowing (according to the lender's criteria of mortgage, property taxes and insurance (and HOA) if applicable).

My family of 6 live and own in a ranch style 3br/2.5ba house with completed bonus room upstairs in a HOA neighboorhood.

The type of home that we've looked into is a condo (I am not a fan of HOA dues), apartment, new construction (ideal, but will this have equity in it later on?)

Is your DSCR ratio greater than 1-meaning are you cash flowing (according to the lender's criteria of mortgage, property taxes and insurance (and HOA) if applicable).

Condo is in a great shape and would need minimal annual repairs with everything external covered by HOA.

Rent is 1800 and HOA is 400property 2: paid 280, owe 370, worth 500.

First, check with your HOA to make sure they don’t have any restrictions on acquiring tenants (or roommates in your case).

The GT resort - older condos but rent well during the horse shows and have a low HOA.

Just carefully underwrite the property, check local ordinances/HOA rules, check the insurances, etc.