We have many beach condominium options in Orange Beach/Gulf Shores that qualify as a second home investment with programs with as low as 10% down, so you don't always have to come up with the larger down payment, but some buyers choose to go with a higher down payment to get a better rate. 

You can dissolve or terminate the condominium. https://law.lis.virginia.gov/vacode/title55.1/chapter19/sect....I recommend carefully evaluating whether the zoning will support your new structure PRIOR to doing so.

However, I’ve never bought a condominium apartment that’s being sold in pieces (IE. 40 out of 220 units). 

https://www.har.com/content/department/mlsHouston Real Estate Highlights in January, 2024:-Single-family home sales rose 9.0 percent year-over-year, the second increase in two years;-Days on Market (DOM) for single-family homes went from 60 to 58 days;-Total property sales rose 6.9 percent with 6,098 units sold;-Total dollar volume was up 11.9 percent to $2.3 billion;-The single-family median price rose 2.1 percent to $320,500;-The single-family average price rose 2.7 percent to $391,080, the first time that figure has been below $400,000 since last February; -Single-family home months of inventory registered a 3.3-months supply, up from 2.6 months a year earlier;-Townhome/condominium sales continue the declines that prevailed all through 2023, falling 4.0 percent, with the median price up 14.1 percent to $223,000 and the average price up 7.0 percent to $247,437.

An HOA is an organization in a subdivision, planned community, or condominium that makes and enforces rules for the properties and their residents.

(Holding)12 luxury condominiums (sold)6 commercial spaces (5 sold) (1 holding) What made you interested in investing in this type of deal?

I will be focused, however, on converting the townhomes into condominiums and selling individually to homeowners.

@Joel OhA taxpayer renting a "dwelling unit", such as a house, apartment, condominium, mobile home, or boat on a short-term basis, from a single room to the entire property, typically reports the rental activity in their individual tax return on Schedule E.

This includes apartments, condominiums, and single family homes.

I am permitting two townhome style housing units on one lot to be sold as condominiums.