Right or wrong idea? Please help
Wondering if I am off base on my plan. I was planning on trying to purchase a rental a year for the next 10 years, but after looking at this site I'm not even close to percentages of return you guys all look for. I currently have one condo I'm renting at 1555 a month and purchase price was 260k, I put around 10% down and just paid off the mortgage insurance, (year later). It currently was appraised at 300k so have gained a little in the past year. I was looking at another condo to purchase soon, but now wondering if that is the right route, as it seems that condos aren't looked upon as highly as multi family places. I have decent income and am only looking long term for passive income so I'm fine taking my time paying these off. Ultimately was hoping for 10 places for passive income later on in life while still having the equity. Wrong idea? Thank you for the help.