The main downsides of a condo purchase is HOA control, for example, with a special assessment, they can ruin a deal.

Real estate is a fantastic way to build wealth, and protect it, if you are careful and leveraged with how you buy, hold, manage and sell.I agree that when starting, you may be better off with a strong single family home rental.

If you have the time and know how, and business systems, and understanding of the law… whenever it becomes to much of a time suck to manage rentals.I went all in and couldn’t help myself or give up control so left my corporate job and started managing rentals full time for myself and others.

When available you should use a system that helps you stay in control, on budget and on time to help your success.  

The vast majority of us take this very seriously, but there are some whom don't and they give a bad wrap to the 90% out there who do a fantastic job.You don't need to have residential experience to jump right into commercial.  

I've done what you might call small syndications with < 10 investors and think they are fantastic.

I did not move forward with the deal and received a healthy lesson in rent control and cash for keys in East Orange NJ in the process!

Leveraging your money (20% down but controlling 100% of the asset) will get you there much faster and the risk is pretty low if you follow some basic rules (know how to calculate cash flow, buy smart, maintain a reserve, have strong policies and procedures in place for renters, know your laws, etc.)

Volume II of the Multifamily Millionaire is fantastic.  

This private investor will not have any control or ownership.