Long Term Rental in Tempe/East Valley
Hello, I'm planning to move to Arizona in the next six months. I'd like to buy a place to live in the Tempe/East Valley area. Ideally, it would be a place that I can rent out long-term and long-distance. What's your recommendation for the type of property that would attract great tenants (single-fam, multi-fam, condo)? Ultimately, I'd like to have the flexibility to also use it as a place to vacation down the road (10 years or so from now).
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Single family is probably always going to be the most attractive type of rental property. It gives you the allure of home ownership without having to deal with the maintenance of home ownership.
Multifamily properties are older here, so if that's something you're interested in, be prepared to pay a lot for it and it's more than likely going to need some work and be in a rougher area. Find yourself a SFR. Condos come with HOA's that can change the rules in the future and they usually limit how many units are allowed to be rented out.