Buying a condo for investment

[Fredmc]

My daughter is lOoking to buy a townhouse as a longterm investment. She also would like to have a positive cashflow, if possible. The area she is looking at has a low vacancy rate and rent for a 3 bd. townhouse is approx. $1300 per month. She has looked at some brand new units and some that are 5-6 years old.
On another forum is was suggested that the type of unit she should buy would be dependant on what she wanted to do with it. i.e. longterm vs flipping.

What would be better for her objectives.

Thanks

Fred Mc.

[investinAK]

I have looked into several condos for long term investing so that my wife and I could travel to each one when they are paid off...

I think I would rather have a home though, but in certain areas, the prices don't permit-i.e. California.

Also, watch out for HOA fees. I have seen them run as high as $500+/month which can really cut into your cashflow.

Just my opinion though, :)

-Ryan