Las Vegas Luxury Buildings

[Donald M.]

How do units in luxury las vegas condos on the Strip look like in terms of a real estate investment for a buy and hold investor (as a rental)? I believe the places that have units for sale are the Signature, Panorama towers, trump, and there is one by circus circus.

For me the main issue is the condominium fee. As I understand it, in general the owners cannot take a vote and hire a management company (which would be preferable). Instead, the management companies are permanent and can charge whatever fees they want, thus making a big profit? Even if I could achieve positive cash flow, I would not consider it a good deal if the management company is profiting unreasonable (ie more than the market rate). 

I plan on living in Las Vegas initially but renting out the unit afterward. If the above units are not good deals, what areas should I look at? Am interested in distance to the Strip and safety. Also, is it a hassle to park at casinos? Thanks!