I presently own two condos which are rental properties, but also have owned other non-condo rentals. Here are some things to consider:
1. What will be your bottom line - rent income vs. expenses out. Condo fees to take up a part of that
2. If you own a non-condo, you have to factor in the cost of roof repairs, exterior building maintenance, snow removal, lawn care, etc. If you are not able to take care of these things yourself, you will have out of pocket expenses which could very likely add up to a condo fee.
Having owned both types of rental property, I must say that the condo is the easier way to go for me. I don't have to worry about shoveling the sidewalk, etc. in the bad weather. The lawns are always maintained, etc. Another issue is property values. In a condo situation, the exteriors are all maintained by the association, therefore, your property value is protected from having slovenly neighbors who do not take care of their homes.
If you can make the Dollars work, go for the condo. If there is anything else I can help you with, please visit my website at http://www.pahomesandloans.com.
Carol Murray Cei