I was thinking about purchasing a condo that we can rent out and we can stay in when we come back for work/visiting.

That 2 bedroom 1 bath will rent for $700 all day.You could get started if you use your mind and just make it happen, some way, somehow.

These are condos that have appreciated quite a bit.. ie.

The webpage will have answers to every question that I get from prospective tenants concerning the property (price, number of bedrooms, when it's available etc etc).

Here are the numbers on the deal: Property Details 1.Condo in 4-condo building.2.3 bedroom, 1 bathroom 3.2-level. 3 bedrooms and bathroom all upstairs4.Laundry closet5.900 square feetPurchase and Rehab DetailsBought for $95k (including fees) all-cashSellers paid $50k in property back-taxes to bring property to good standingHad to get a bond because there was a small loan against the house still on title and the note holder had since gone out of business and could not be located.Rehab ended up costing $36k.

We're currently looking for a condo/SFH/multi-unit (which is extremely difficult to afford in LA) and really looking to ease ourselves into this world.

We live in the Raleigh area and we bought a condo at the beach and I rehabbed it (mostly all myself and I LOVED it!)

I just listed a 1 Bedroom in my Triplex and I got a tremendous response in less than 24 hours from posting, but a lot of it is junk.

So basically our realtor sold our place very rapidly for much less than we wanted, but she did it on the basis of we had the one condo we wanted wrapped up, she gave us the verbal that it was done, it turned out her verbal on the other condo was false and now being that was the only place we wanted to move and its not doable for the price she told us was agreed upon we now are selling our place very rapidly for way less than we wanted for nothing.

Can I please have some feedback as to the pros and cons of owning and renting condos and townhomes?