Has anyone here got experience as a foreigner with renting out a condo in Thailand, specifically in Bangkok?

I am looking into buying a 1-bedroom condo and renting it out. Are there any profitable condo developments that you would recommend (not luxury)? What advice would you give in order to have the least hassle and most profit :)

Thanks for any kind of advice.

This isn't anything else question. I have been presented with a great opportunity to buy a hostel right off of sukhumvit next to BTS Nana. Does anyone here have any experience owning a hostel or hotel in the area? I have some questions if you could possibly help out.