Great idea, but before buying a condo make sure the HOA will permit short term rentals.

If you simply pay the extra amount that would be equal to a 15 year payment, it works out Exactly the same.

I live in osceola county so things are a little different but I didn't need to pull a permit but in orange you may have to so make sure you check up on that.

Run into permit issues, that’s 2 extra months of holding costs.

I hope to get a bit extra if a tenant wants to park a car in the driveway.

Then you would not have to worry about the tenant giving a friend an extra copy and the cost may even cause the tenant to say never mind because they found their key.

Sometimes extra work is involved but usually worth it in the end. 

If it's purely/mainly from extra money you've put into it, then that hardly counts, right?

Thanks for  your advise  Jonny Morris I am i have already run  the numbers its listed for 110k i estimate to rehab it for 80k 100k and the ARV 300k 320k.So what i am confused is what are the step by step things that i have to do after buying, for example hire contractor talk to the town or state for the permits and inspection in Newark nj there's something that's called the ccc when I have to take care of this appreciate your help

haha  That's really not my issue; I just wouldn't want to deal with the logistics of scheduling cleanings/turnarounds and coordinating appropriate check-in/out times for a few extra bucks, regardless of the way in which the space was used.