Advice On Condo and Co-op Note Purchasing

[Rick Rapant]

Got my hands on a couple of performing notes well seasoned and excellent pay histories for 2 condo units in Florida. Can anyone advise on what to look for before purchasing a performing note on a Condo or Co-op? I've seen some discussions on staying away from HOA's but how does that effect the purchase of a PN? What other red lights should I be concerned about beside the standard DD requirements to purchase any PN?