Condo vs SFH - Buy and hold strategy

[Julian Fung]

Hello Bigger Pockets community; happy Friday!

I am looking to potentially invest in a condo in the DFW area (about 15-20 mins north of downtown). My strategy would be long term buy and hold/rent.

The condos caught my attention because they seem to be substantially cheaper than same-size SFHs, on top of taking HOAs into consideration for monthly payments. I know Zillow's Zestimates are not the most accurate, but the trend I've found is that most SFHs in DFW are typically listed close or above Zestimates, but many condos are listed at 5-25% below Zestimates.

Though I'd like to buy and hold, it's always wise to consider exit strategy. I have a few questions in mind:

1. I have heard that condos are harder to sell than SFHs, but I'm curious how much harder it is to sell? Seeing that they are listed so much cheaper currently, it only makes me wonder.
2. Is it more difficult to rent a condo than an SFH? This is in a location right by hospital, mall, train station, and popular hiking/biking trail. It has pretty bad schools though.
3. Any other thoughts/advice on this subject?

Would appreciate all your thoughts, advice, and feedback. Thanks guys!

[Walter Roby jr]

When investing into condos you really need to vet the HOA, Bylaws, and their Covenants, Conditions, and Restrictions (CC&Rs) . Some communities only allow a certain percentage of the units to be non-owner occupied, some don't allow Air BnB, their balance sheet could be weak and impose a lot of assessments.

Try and reach out to the board of the HOA and hopefully attend their meetings to get a feel for them as a governing body of your investment.