[quote=flu]dealing with 15 renters doesn’t end up being a “passive investment”. It ends up being an almost full time/part time job, even if you use a property manager. I mean, you wouldn’t want to be completely hands off either, since then your costs would get totally out of wack….Also, the likelihood of getting near 100% occupancy in at 15 condos for an extended period of time is less likely than I think renting 3 houses to 3 families. Then again, I’ve haven’t been in the situation of dealing with 15 tenants yet, so I wouldn’t know if the PITA factor would really be an issue….[/quote]I know someone who have to deal w/ 10 in low income areas and it’s not as bad as you think it is. It’s definitely not their full time job.
If you don’t want to deal w/ 15 1/1 condo, you can deal w/ 6 SFH in MM instead. They’re going for $2400 now: http://sandiego.craigslist.org/csd/apa/5032950024.html. Since you don’t have to deal w/ HOA, your cost to maintain would be less than 3 SFH in CV. That mean your rental income would be $14.4k/month. Maybe you can maintain 6 yourself :-). That would actually yield a higher rent than the 15 1/1 condo.
