Single Family Vs Condo
Just starting out and am looking at my first Investment property.
I am confused between single family homes vs a condo.
What is a better bet for a buy and hold investment and I want to rent it out.
I want to take it as a learning experience so I was looking at low cost investments. I saw a 3 bedroom condo with 1.5 bath built in 1971 for $18k. The price seems comfortable to me. Wanted to understand more about condo buying before i spend any more focus on these kind of properties. It has a condo fee of $210 and mortgage will be less than $100, is this normal. Is the condo fee going to cover for property management and maintenance/repairs? What is this fee for.
On the other hand, could not find any SFH for this price range apart from tax foreclosures and all which I don't know if they will be a condition to rent or need a lot of work.
Any suggestions?