Condos can definitely be a less scary way for a newer investor to get started and grow from there.As Joe mentioned above, you will definitely want to add in the HOA fees and any other special assessments into your cash flow analysis.

We are currently looking at three types: contract for deed, seller finance, subject to.The hurdle is, we both have no experience with special types of financing and have no idea who to talk to.

However, there are tax code changes every year.

@Tyler Cornfieldshort answer - i don't know if you are or not. ask some lenders.but i'll say this about out of state investing at this time. 

@Henry T.Sorry but I don’t agree - this is like saying lawnmowers are dangerous because 75 people per year die from them.

How are you generating steady cash flow, benefiting from appreciation, offering tax advantages, and diversifying your investment portfolio?

How do you know they are accurate if you have never done a deal?

If so, how are they appraised?

It also gives you a ton of access to see if all nodes are up and running, reset the router etc. from afar.

With this being my first apartment deal I am more unsure about underwriting this type of deal and was hoping to get somebody who is more experience in multifamily to look at the proforma, T12 profit and loss, and rent roll to tell me if I'm missing something or to let me know of things that I should be looking out for.