For context, we have great tenants, take good care of the property, and have had no issues in the community.

@Angelo Aguirre That's great.

While purchasing under market value is a great opportunity, stretching your budget too thin can add significant financial stress, especially during the renovation period.

Thankfully, we are already getting inquires and website hits and we have only just broken ground on and put a single sign on one lot. 

These special assessment were thousands of dollars, and there was no sufficient reserves from the monthly fees to cover these large biggers, so the owner were required to cover the shortfalls out of pocket, what a great way to ruin your cash flow and ROI.There are benifits to condos, including tennis courts, playground, swimming pools, club houses, and fitness facilities. 

👋🏽Welcome to the biggerpockets forums, I see you are from Hammond, Indiana which is a great area to get familar with including other portions of NWI.

With setting up LLCs would someone go to their Secretary of State website and do this?

Purchase price: $44,000 Cash invested: $75,000 This was a huge undertaking, but the risk reward ratio worked out great.

But I'm not feeling great about it.

With your real estate background, you’re already off to a great start.