Looking for info on Condo Package Deal

[Kevin Danikowski]

I can't find forums on bigger pockets discussing condo package deals, so any insight possible would be appreciated! 

I'm looking at a deal to buy around 10 condos (in chicagoland all 1x1 / 2x1) where I would own majority stake in the Association and thus would have power over it. The cap rate is high (7-9) but it has been on market for nearly a year. 

I'm not sure why it's still available since it seems like a great deal, here is what I guess:

1. There are additional headaches when it comes to owning multiple condos and running the association.

2. It's not as "sexy" to own a bunch of condos compared to a 10+ unit building.

3. Financing is probably difficult since I'll need to go though a local bank and finance around 10 separate units (hopefully 20% down).

4. You can't sell them off as easily to owner-occupied since the entire building is non-owner-occupied

Can anyone give any insights on condo package deals with/without having majority stake in an association? 

Also, I'd like to eventually do a condo deconversion, thus having it as one multi unit building, any insights on condo deconversions ?