The exception would be buildings specifically meant for STRs that explicitly permit them.- The HOA fees are not fixed and could rise in the future- Condos can be difficult to finance, particularly non-owner-occupied ones- More potential for neighbors who dislike STR activity or can be disrupted by STR guestsThere are certain places where condos may make sense, but in general, I'd recommend looking at other options

Shoot, I meant to include the loan is for 20 years at 5.45%

This is of course simplified math but it is meant to open that thought door to exploring your options. 

@Athan Seyler sorry, I might have misunderstood what you meant here. 

I never meant to cut corner.

Their incentive was to do what it took to contract their dream home and that meant a time crunch to get a contract, plus the hassle of listing prep and showings for a busy family.

I work just north in Somerset county but am somewhat familiar with Trenton.While I know people can do just fine in Trenton some of the sections can be a little seedy.But towns next door like Hamtilon and Ewing are pretty cheap and tend to have a better reputation overall.The trenton zip code bleeds over into some of those areas so if that is what you meant apologies.Best of luck!

I meant the second appraiser picked two properties that were larger, but had values under $150K.

If you have more than you need, you are much more likely to give some away.Labels often don't follow logic and are often meant to cut people down.

It was always meant to be a weekend home whose costs I could partly cover through AirBnB...I wasn't as thoughtful or concerned about the annual loss in the early years but now realize it's taking away from my efforts to build wealth - though I don't regret the great times I've spent there with friends over the years.