The home in mn over 20 yrs averaged 2.8% increase per year.

Materials have increased more than 20% in the last 5-8 years.

I'd be interested in hearing from condo investors about why this real estate product makes sense even with the low COC returns and HOA fees that cannot be influenced?

Hi there, if you're open to holding onto the property, converting it into an Airbnb or short-term rental could significantly increase your cash flow, especially with the current demand for rental properties.

Quote from @Cameron Moore: Exactly. 15 years ago, I noticed an increase in owners using insurance to pay for a replacement roof, usually to sweeten the pot during a sale.

The shorter the prepayment term has an impact on increasing the rate.4.

I have found that the "value add" opportunities, with rent increases, renovations, zoning conversions, and other work needed, absolutely do take up more of your time compared to a more turnkey property - even with third party management overseeing the process. 

.- Builds long-term wealth - Generates rental income - Increases equityCons.- Complex process - Requires financing - Dependent on market conditionsAirbnb:Pros.- Potential for higher returns - Flexible pricing - Short-term commitmentCons.- Requires active management - Subject to regulatory risks - Income can vary seasonallyI wish you the best in your new venture.

The land has slightly increased in value (by like maybe 3-4% over 3 or so years) but the value of the structure I'm pretty sure has gone nowhere. 

If you spend time learning how to manage well, your income will increase, you'll save time, and you'll maintain your sanity with the courage to expand.