Yes they can be cheaper, but they are almost all 2 bedrooms  and in this area most except for Sun City have pretty high HOA fees. 

Appreciation is also not typically as great with condos (unless it's like beachfront property) and there is always the HOA wildcard.One strategy I've thought of recently is downsizing to a "fix and flip" 3 bedroom/2 bath and renting out our current residence.

HOA is $850 /monthProperty taxes is $12,200 /yearIt’s located in a complex of warehouses and everything looks very kept up and everything is pretty much occupied there. located near the new Amazon fulfillment center in South Florida.

Current situation: We've been lucky with great HOAs thus far, but one of our property's HOA has gone off the rails lately.

@Jack Morey I have a few buddies that do condos, just really dig into the HOA's after you check out the HOA fees.

My dilemma is made worse by the fact that there is nearly no inventory in this market with favorable short-term rental specs (no HOA, no land lease, no rental restrictions from the city, etc.), and this property fits them all. 

But HOA is around $200 Thanks for your help!

Think this is why the 1% rule (and nearly all "rules") generally falls short.What is the rent to value ration after subtracting the Condo HOA fees? 

We do have to count out apartment complex listings however, single unit privately owned condos, are in need of updating, and do not have the amenities that apartment complexes do for our 400k purchase price, unless there is a $200/mo HOA fee. 

Different cities have different rental regulations (rental license, inspections, etc), and also if there's an HOA, they have their own restrictions but nothing currently statewide.