Condos as long term rentals
Hello All,
My name is Phil, a real estate investor in the Chicago/Central Illinois area. I am relatively new to BP but have already learned a ton from the forums and podcasts. I am considering purchasing a condo in central Illinois to use for long term rental income. Are there any disadvantages to purchasing a condo instead of a house aside from the HOA dues (FYI HOA dues in this case only cover snow and lawn maintenance)? Additionally are there any benefits?
Any advice is much appreciated.
Thanks!