The main downsides of a condo purchase is HOA control, for example, with a special assessment, they can ruin a deal.

,Take his app, if he qualifies and wants it let him move.He might want a better location (for him) a bigger place (plans on getting married), better neighbors, closer to the Bowling Alley, less morning traffic on the way to the freeway, his dream neighborhood--who knows.Then turn his existing unit and put someone it it at market rent--if it will hold market rent with good renter.Pro Tip: On the way out, ask him Why he decided to move.Maybe the new place has a tree that's just right to hang dead deer from while he processes them--who knows (???)

If you have the time and know how, and business systems, and understanding of the law… whenever it becomes to much of a time suck to manage rentals.I went all in and couldn’t help myself or give up control so left my corporate job and started managing rentals full time for myself and others.

When available you should use a system that helps you stay in control, on budget and on time to help your success.  

@Kevin GlassbergA syndication is just a cool term where a sponsor / general partner / deal finder pools money from limited partners / those with money to purchase an asset that will provide cash flow and/or appreciation.Syndications can be in start-up companies, venture capital funds, stocks, bonds, or real estate.We are on a real estate forum so we can discuss real estate syndications.A real estate syndications big sell is that it is hands off for the investor who doesn't have time to manage along with access to deals that he/she may not be able to do on her own.The cons are that you lose some control along with having a hold period that is normally dictated by an operating agreement(illiquid asset).Best of luck

I did not move forward with the deal and received a healthy lesson in rent control and cash for keys in East Orange NJ in the process!

Leveraging your money (20% down but controlling 100% of the asset) will get you there much faster and the risk is pretty low if you follow some basic rules (know how to calculate cash flow, buy smart, maintain a reserve, have strong policies and procedures in place for renters, know your laws, etc.)

Check traffic times between your office and different areas.

This private investor will not have any control or ownership.

I also have some knowledge of LA rebt control, evictions, basic asset protection and have some decent LA resources at my disposal and am more than happy to share anything i have/know (for fun and for free)looking forward to seeing what other markets people are having success in and actually getting deals- i looked at milwaukee at suggestion of a friend and seems like I'm a year too late there.