Buying Condos/Townhomes In Good School Districts Good Strategy?

[Josh Quinn]

I am a newbie in a hot market. I don't feel like I have the connections or credentials to find "good" off market deals yet. I have some friends that flip and we've already spoken about doing a project in the near future but I have a baby coming in late October and I'd ideally like to make my first acquisition and have a tenant in place before that happens. 

I've started to narrow in on a strategy that I think is decent and I'd love to hear any feedback on positives or negatives of the idea. Initially I was turned off by the idea of condos but given my situation I feel like the positives of being a condo landlord outweigh the negatives. So at the moment I am looking at stable suburbs of Columbus, OH with good schools where I can get condos under $125,000 that I should be able to hit the 1% on. I don't think there is much upside potential for appreciation but the lack of exterior maintenance is appealing and my guess is that it's a good way to get long term tenants, i.e. families that are there for the school district and less likely to move. 

I like the idea of not having to spend too much on the first deal or two to get my bearings. I feel like I can't lose too bad if something goes wrong on a less expensive unit part of a larger complex if I do my homework regarding the HOA and assessments.

Positives and negatives of this? Would you personally choose single family homes over condos in similar areas? Anyone love or hate condos? 

[Remington Lyman]

@Josh Quinn I do not have any experience with owning condos but I have put some through my pro forma and none have worked for me.

I prefer small multi family because you have a lot more control over them. HOA could decide to raise fees at any time.