buying a high rise condo

[Abel Gudaye]

I know purchasing condo units number wise based on HIGH HOA fees makes it black sheep as a the rental property unit. But what about purchasing the whole building?

I happen to be renting out a unit in a high rise condo rent is 2,150-a month 2bed 2bath on the 2floor of a 30 floor building classified as A- built in 2001 with good amenities like valet, library, pool, gym, sauna, garage parking. They have studio, 1bed 1bath, and 2bed and 2bath in the building of around 2000 units. 

As a renter i only pay electricity and insurance. I dont know if the building wrapped the water & waste bill with the HOA fee or the owners pay for that. The Hoa fee in the building ranges from 700-800 dollars a month. I come to find out the building is worth 55million dollar (based on hurricane season and how to insure your unit and what percentage of building is your unit).

Ive read that when buying condo buildings you pay a downpayment of 3%-20%. If youre buying a the whole condo building what are the fees you'll be looking into? You dont have to pay HOA fee right haha?