Thanks Rich for your excellent comments. But one thing to point out... you do have hoa dues on condos and you may or may not have a special assessment every 5-10 yrs. But condos you will never have to pay out of your pocket to:
-replace the roof
-paint the exterior
-keep up the landscaping
....units you will have to pay for all this.
Also, water/garbage bill is included in the hoa with condos where you have to pay that with units. And the hoa polices the area (doesn't allow large dogs, or people to park a ton of cars & keep junk around like they will on units).
I do myself personally live in a condo right now.
But I hear you on units, I do like them better all things being equal. But in my area they are in so much worse areas of town than condos for similar price per door. I would personally live where I invest in condos, I would not personally live where I would buy units. So guess there is just a safety factor for me because I know what the tenant will be like since I have rented in these areas myself.
Some of the worst nightmare stories I've heard form long term investors I know (that favor SFR's now) are from 4-plex's they owned in bad parts of San Bernardino CA on blocks with mostly apartments. They all said it was a nightmare management situation with endless turnover, drug activity, etc... And they sucked up so much of their time and energy that they vowed to never buy anything but single families homes again.