Buying out a condo building- question

[Adam L.]

Has anyone bought out or bought enough condo units in a single complex to have control of the project. 

I have a proposal in front of me where an investor would like to buy a significant amount of condo units within a specific complex. The association has a lot of cash on hand in their reserve account. We can rent out the units and have a good return. In addition, we would look to return some the reserve cash to the condo owners, including ourselves.

(Obviously, we would still keeping the correct amount for repairs and a functioning association). 

Thoughts?