Clearly, a new build or very well maintained property would require less monthly in repairs, but these often sell at a premium. 

With a pure investor I would tend to want to do the deal differently in order to maintain access to that pool of capital.

One of the duties of the HOA is to maintain property values. 

Well MAINTAINED curb appeal is more important that the initial effort.The maintenance of your yard is what helps build community, pride, and deters crime.In addition to the great comments you've already received, calculate maintenance into your plans.Best to you!

The lender is more filling to negotiate on occupied properties because the hardest part of the process is getting the borrower out and at that time there expenses go up because they will change the locks and start maintaining the property.  

"The veteran must have a history of continuous resident in the community and there must be no indication that the veteran has established, intends to establish, or may be required to establish, a principal residence elsewhere" VA Pamphlet 26-7, Revised Chapter 3 Section 5.h     In order to clarify this with the lender, I established that I attended the University of Florida from 2007-2010, '10-'12 I went to training and deployed but maintained residence in Gainesville. 

The key to successful renting is to maintain your rental homes in top condition before you rent them and attract good tenants who will take care of your house like it was theirs.  

My current goals are:Short term (within 1 months)  Own one multifamily dwelling  Own three single family properties  $10,000 cash on handLong term (4-5 years)  Purchase home for my personal use  Maintain at least $25,000 cash on hand  Increase credit portfolio to $150,000  Own & maintain 8 single family properties  Own & maintain 2 multifamily properties  Start my own charity to give back to my community

It is very possible for town homes to be without a HOA in fact I just offered on a townhome with out one last week. however be aware that even though a townhome may not have and HOA there my be guidelines for owners to follow by as far as keeping the property clean and maintained.

If you could afford the house, it would be better for several reasons:1) Better appreciation2) No monthly association fees3) Easier to sell when necessary 4) You get more land for your moneyThe downfalls are:1) You have to maintain the entire house yourself including the garden, land, etc...2) Slightly higher insurance cost usually (slightly)It all depends on if you can afford it and are willing to maintain it.Jason