Pros/Cons of investing in a community of 4-plexes

[Stephen Scott]

Hello,

I am new to investing and I am looking to by my first property. What are the pros/cons of buying a multi-family property in a community of multi-family properties where the property is not on its own land, there are HOA fees, etc.,?

ss

[Account Closed]

My opinions:

Pros:  I'm guessing all the buildings will be pretty similar if not exactly the same.  So  you'll know what maintenance to expect, and how much things cost.  Also you still have the availability of residential financing.  

Cons: More roofs to manage.  If you aren't the only owner then you have to worry about those around you being slumlords and bringing the quality of the neighborhood down.  Especially the case where there are no HOAs to impose a certain amount of decorum.