Condo - Unable to Rent for ~3 to 5 Years

[John Lachance]

Good Morning BiggerPockets, 

My Girlfriend and I recently came across your podcasts and website. BiggerPockets has sparked the idea of financial freedom through real estate and we are looking into buying our second property. We currently own a condo but a problem we are running into is there are 27 units ahead of us for renting in our complex. (I did not think about this when buying). We are eager to purchase our next property with Single Family Residence in mind. My question is should we sell the condo with our little equity and then begin growing our portfolio? It does not seem realistic to stick around for 3 years waiting to rent our unit out. 

Reasons for moving to Single Family are two dogs and a Baby on the way! Jusdt looking for any insight or thoughts. 

thanks for any insight!

[Nathan Gesner]

Yes, you should sell the condo. It doesn't make sense to hold it for three years and wait for an opening. Besides, the HOA could easily change the rules in the next three years and derail your plans.