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Updated about 9 years ago,
Multi unit - condo vs apartment?
- I'm considering a 6 individual condo package. 3/2s in a stable neighborhood. They make up a 6 unit building which is one of five similar on the property. The numbers have potential as apartments but what about as condos? I understand with condos I would be buying the inside of each unit and not the building itself.
1- Can HOA fees be viewed similar to property management? Other than finding tenants, there doesn't seem to be a lot of difference.
2- Are there significant tax, insurance and mortgage differences?
3- Leasing should be the same as an apartment, right?
4- Is there anything else to consider?