Are SFH the main target or are these just as lucrative?
Lots of them in my area where SFH are beyond the $ reach of most middle-income individuals.
Also, what about HOA’s. Do they present any big problems when doing Rehabs? A lot of the books I’ve read don’t mention HOAs at all.
In some parts of the country these properties are hot, hotter, hottest. What is your market telling you? You’ll be writing into your offer the right to review HOA bylaws right? Most good purchase agreements have the language already in them. Most bylaws shouldn’t present a major challenge for simple rehab. If you’re altering or changing from the original structure you may need to grab a salt shaker and put on your selling shoes. I had a bro in NY buying in a co-op. Got to keep everyone happy. Are you buying in any historic areas? I have a property manager handle ALL duplex and multi unit properties. I give up 10% of rents if payments are on time 5% if they aren’t. In my world duplexes are very good for cash flow.
Townhouses are the way to go here in South Florida
in a market cycle, condos/townhomes appreciate the last, but they’re runnup is pretty steep percentage-wise[in coastal areas].
on the flip-side in the downturn, they go down the first, the most and stay down the longest.