Look at your monthly payment (PITI = Principal,Interest, Taxes, Insurance) + HOA + (other maintenance fees if any) and if this amount is less than what you charge for rent (whether its Long, Mid, or Short Term rentals) and you are happy with the positive cash flow, then yes.Or maybe you're breaking even with the condo but you have  knowledge that the condo will explode in value due to some business/attraction/law/policy that will prop-up the sales price in the near future, then yes.Really, it boils down to what your goals are for this first investment.

should i start adding extra to the principal immediately or keep paying the usual?

You will then have a few options with that rent money....you can put it into principal or you can start saving it to purchase yet another property.

When I am done with school, we will refinance the mortgage, pull out all of my joint ventures principal payment plus an additional 10-15 percent for them to keep as a term of the deal.

Forced appreciation, appreciation, tax savings, principal paydown and (the most valuable in my opinion) experience. 

Here's a casein FL - Seller in foreclosure has 120k principal @4%, Shes 10k in arrears, house is worth about 250k, good condition.She wants to stay at the house, but doesn't mind selling it if needed.She will likely not qualify for a loan mod at the moment, good amount of equity.She works in the medical field, just took sick and fell behind.I was thinking of offering to pay her 10K in arrears and creating a 2nd mortgage @ 10% interest.if she defaults, i can foreclose,  as there is a bunch of equity there.any thoughts of a better scenario that i can make more of this situtation?

If no construction lender can get comfortable with you as the builder (aka principal, sponsor) regardless of you hiring a well-qualified GC, then maybe the solution is to give some piece of the equity to another builder/principal who would oversee the GC, and whom has the track record to satisfy the lender.

It may sound like a long time, but real estate is pretty much the only investment where you can generate cash flow, build equity with principal paydown and grow your net worth.

The repayment terms for a 401k participant loan are equal monthly/quarterly payments of principal and interest (typically prime plus 1%) over a 5 year term (longer if used to acquire your principal residence).Please note that if you take a full $50,000 and then pay back the loan, you can't take another $50,000 until 12 months after the first loan was fully paid back.Per the loan offset rules that went into effect with the 2018 Tax and Job Act: if you leave your job and the loan is current at the time you leave your job but then the loan goes into default because you left your job, you will have until your tax return deadline (including any timely filed extension) to make the loan current by depositing the outstanding balance into an IRA (and thereby avoid the taxes and penalties that would otherwise apply).Please keep in mind the multiple loan rules:Under those rules, the sum of the balances of a participant's outstanding 401k loans under a single 401k plan (using the highest outstanding balance of each loan over the last 12 months) can't exceed 50% or $50,000 whichever is less.

Now its 2024, and I have around $300K in principal left on the loan.