Is a Condo or Townhome a Good Real Estate Investment?

If you're thinking about buying an investment property and you're thinking about buying a condo or townhome, that may not be a great idea. 

Condos and townhomes generally have HOA fees. Those fees will eat into your profits. Not only that, a lot of those HOA's also have rental restrictions.

So even though you're able to rent it out today, there's a chance that the bylaws and things could change. And then you can have problems renting it out later.