Buying 8-12 condo units a good idea, instead of an apartment?

[Todd Moriarty]

I'm currently looking at buying a 8-12 unit apartment building and seeing on the MLS a lot of condo deals where a seller is selling a package deal of 8-15 condo units in the same building. Common sense tells me this isn't probably a good deal (unless the unit prices are rock bottom). Because I wouldn't own the land, the building, per se, and the appreciation wouldn't be as good. There are association dues paid, not to me, but to the association. Sounds like a bad idea. Any suggestions?

[Anthony Chara]

It all depends on the price/terms and numbers. One other thing to consider, you will have limited control over the exterior of the property since those decisions are made by the COA board. Since, as you previously stated, Todd, you won't 'own' the building/complex.   On the plus side, you'll have a forced reserve in place, assuming the COA knows what it's doing, to pay for things like the paint, roof, landscaping, parking lots, snow removal, etc.