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Depends on your expertise and pocket book. Then it depends on what is available. Each can be excellent investments. Each can be bad investments.
Then I would seek the guidance if a real estate expert, whether it be one that handles, condo's and multi families, or one that handles, industrial, retail, apartment complexes, or office properties. You may want to consider NNN leased properties and or REITS both will require less expertise and involvement from yourself.
In my opinion go with aMulti Unit that is 4 units at max. Or less than 4 units.
Commercials Multi units or properties cab be tough as buying and selling them
With Commercial Loans is not easy, also if you inherit existing leases and businesses
They May or May not be performing.
Also check with Commercial Properties with the City, many cities require that the
New owner bring them to code, after purchase.
There are so many variables that go into determining a good investment, you can't really break it down as condo vs. multifamily or commercial building. A commercial building is going to be your lowest-maintenance option, but commercial Real Estate has challenges of its own, such as a higher vacancy rates.
When you are deciding on any investment, keep in mind some of the bedrock principles of any kind of opportunity... Think of the risk/reward principle. Any form of Real Estate can be purchased for a discount in communities that are considered less-desirable, for whatever reason, in a local market. Let's say you know a new train station, shopping center, or something like that is going to be built in the area. You can buy a property and once the area experiences some positive effect, you can realize that gain when you sell the property or increase your rents to reflect the improved desirability. That would be an example of a high-risk/high-reward scenario.
You can purchase an investment in the absolutely most desirable part of a given community. You'll pay top dollar for the property, but you have the security of knowing you will be able to find tenants for commercial or residential space that are willing to pay top-dollar for rent too. This would be a low-risk/low-reward situation. Your profit margin is going to be smaller because the costs of buying in are higher, but you can sleep better at night because the bottom is less likely to ever fall out.
Start interviewing Real estate agents in the area you want to look. If you can find an agent with sufficient time/experience in the business who can speak with competence about Real Estate investing, they will be an invaluable resource for you.