Condo vs. Multi-Family

[Meghan Danaher]

Hello! We recently went into contract to purchase a 2-unit multi-family property in Savannah, GA.  It's set up as 2 condos plus a condo association instead of a multi-family residence.  Does anyone have experience in dealing with this?  My questions are:

1) What are the pros and cons to having it as a condo vs a multi-family?  So far I think the considerations are as follows, but would be curious as to others' experiences:

- Pro: you have the flexibility to sell one unit later without selling the whole property

- Con: Insurance seems to be more complicated (we would need to buy a condo association policy in addition to a policy for each of the condos)   

- Con: If we were looking to sell the property, a buyer would have a tough time getting financing

2) Has anyone converted a condo into a multi-family?  What was the cost/difficulty?