Putting It All Back Together

[Ivan Gerrity]

I've recently come across a Bulk Condo Purchase deal I'd like to pass by the pros. The entire complex is 92 units and the offering is for 73. The pricing/cash flow is good, the property has been well maintained and the association appears to be well funded and under control. Additionally, my understanding is there are at least 4-6 condo owners outside this deal that would be willing to sell close to the same price point. My questions is has anyone attempted to put a property back together by acquiring all of the condos?
There are some advantages to this:
1) Complete control of the property
2) Better Multi-family loan terms
3) Attractive package to sell to a develeoper/rehaber down the road to sell back as Condos some time in the future.

I'd like to hear any comments as to the pros and cons of a deal like this and any experience others have had.

Thanks in advance!