Keep going back and forth on SFRs, Condos, Multis...
I keep crunching numbers on SFRs in an area I'm interested in (3/2/1 ~ 130k, 3/2/2/ ~145k) and also condos in the same area (though 2/2s , some 3/2s, 3/3s) and the $/door/month is in some cases close to double ($200-250 vrs $450-500 for condos).
I know there are some negatives with condos - the "special assessments" - can someone give me some real life scenarios that I can use to deter me from going and putting some offers on these condos? Even if they have a $1000 a year assessment, I would come out ahead. Would it be more difficult to sell/exit/portfolio wrap? Again, may be specific to my area of interest.
I also can go up to New Port Richey, FL area and pick up $30K 1000sqft 2/2 block homes that need about $15-20k in rehab and rent them for $800/month. That is my second option - after condos. SFRs in the Palm Harbor, Dunedin, Safety Harbor, Oldsmar, Lutz area are just so skewed and in a "mini bubble" from the hedge funds dumping 1 BILLION dollars over the past several years into the Tampa Bay area in 3/2/2s.
Or do I keep going down the path of Lance Edwards book BIG MONEY SMALL APARTMENTS (which I took a detour from by looking at these SFRs) - keeping in mind I do not have much real estate experience (one of his biggest points was saying you dont need to "graduate" from SFRs to multis).
cheers,
kyle