Apartment building vs condos

[Tim Sherrier]

I have been looking for smaller apartment buildings and have found I can buy 10 to 20 condos for less than a 10 to 20 unit apartment building. Rents are at least as high for the condos. Liquidity and flexibility seems better in the condos. I think expenses may be higher with separate condos but looking at 45 to 50% of rent to go to expenses the condos are winning out. Am I missing something here?

Thanks for any help,
Tim