I called the association of the property to get some more information.

I completely get why condo associations need to levy special assessments and increase monthly fees, and specifically in this case to comply with the recently passed laws in Florida.My objection is to buying these FL condos as possible rental properties.Buying condos for investment is already a risky proposition.

I've included an example below to help illustrate this.So different lenders have different rates (which do vary even for DSCR loans) but these are factors they all consider.See example below:DSCR < 1Principal + Interest = $1,700Taxes = $350, Insurance = $100, Association Dues = $50Total PITIA = $2200Rent = $2000DSCR = Rent/PITIA = 2000/2200 = 0.91Since the DSCR is 0.91, we know the expenses are greater than the income of the property.DSCR >1Principal + Interest = $1,500Taxes = $250, Insurance = $100, Association Dues = $25Total PITIA = $1875 Rent = $2300DSCR = Rent/PITIA = 2300/1875 = 1.23DSCR lenders generally let you vest either individually or as an LLC.

You can check out Lake County Property Investors Association, they have a meet-up in the area you might enjoy. 

You can network on here BP, local chamber of commerce, builder associations, join local meetup events to find like minded individuals to help find that partner. 

It also may be a question of which format is more desirable for the market and associated demographics.  

I've included an example below to help illustrate this.So different lenders have different rates (which do vary even for DSCR loans) but these are factors they all consider.See example below:DSCR < 1Principal + Interest = $1,700Taxes = $350, Insurance = $100, Association Dues = $50Total PITIA = $2200Rent = $2000DSCR = Rent/PITIA = 2000/2200 = 0.91Since the DSCR is 0.91, we know the expenses are greater than the income of the property.DSCR >1Principal + Interest = $1,500Taxes = $250, Insurance = $100, Association Dues = $25Total PITIA = $1875 Rent = $2300DSCR = Rent/PITIA = 2300/1875 = 1.23As mentioned earlier in the post, DSCR lenders generally let you vest either individually or as an LLC.

But in general, the physical asset, the finances associated with the asset, and the location of the asset are a great place to start when evaluating a property.Good luck!

Hey Nick, I am a new investor here I appreciate your response to OP's question, could you elaborate on the complexities associated with assuming a mortgage in today’s high-interest rate environment?

You would need to pay back the lienholder the outstanding principal balance of your loan plus any associated fees (Prepayment, discharge, etc.)