Me and my partner Been looking to purchase a vacation rental property and the term Condo-tele has come up.

I bet smart developers will tear down buildings and build condos or FM Rentals like they do in NYC to hit their return requirements. 

I currently rent a condo in a great area and have the opportunity to purchase it if/when I want.But my question to you guys is, if I’m wanting to begin my Investment journey.. is it better to be a homeowner yourself?

One of the nicest rentals in town, averaging $3,600 per month for a 2 bedroom apartment.

Don't do what I did, buy a townhouse condo with a steep monthly HOA fee in a tony neighborhood full of wannabe social-climbing trash with a pool and tennis courts.

For instance the house next store sold in 2015 for $103/sqft and is of similar age and condition although it has one more bedroom.

I would like to get information so i assess the best approach to tackle this new real estate market.Ideally, I want to invest in condos and/or townhouses as a starter investment to get my initial experience and add more as I finished my pharmacy program.

FYI:  the main unit is listed as a 3/1, but we found that it is really a 2/1 - the 3rd "bedroom" is technically a den and is a walkthrough to the 2nd bedroom upstairs.As we looked at the property late(r) in the evening, we weren't able to view the exterior/roof of the property very well. 

Purchase price: $59,500 Cash invested: $59,500 A 2 BR / 1 BATH Condo in Derry, NH. 0.4 Miles from the Pinkerton Academy.

I’m planning on buying a condo in Southfield, Michigan.