Joe GoreJoe, not everyone has a private attorney on a salary doing title examinations as you might running hundreds of millions through, but note contracts are done subject to good title, the deal is struck and then you spend the money for the search as well as property inspections if necessary, then you close the deal. :)

In addition to the HOA regs, you need to carefully examine the financial condition of the project.

After calming my nerves, we briefly discussed about the property and what not.

However, upon closer examination the answer is - it depends.

Forget taxes, depreciation costs and appreciated values - - every investment has all of these, so they are NOT discriminators for the purchase decision.If you want an indicator for which deals to examine in detail, take the GSI / Price better known as the Cap Rate and higher is more interesting.The kicker is, a better CapRate isn't always a better cash/cash return, because the expenses can be deadly. 

He examined the wall outlet and discovered that it was a loose connection.

At lease get an engineer/building inspector to examine it F I R S T.

Actually, that one really gets on my nerves when I see it.:-)

On one of my purchase contracts, I have this paragraph:  The Seller, at his option, agrees to furnish the Buyer, either a complete abstract of title certified to date, or a title insurance company's commitment to insure, to the above described real property, showing a merchantable title vested in the Seller, subject to: ______ Title Evidence shall be sent to ______ for examination by the Buyer as promptly and expeditiously as possible, and it is understood and agreed that the Seller shall have reasonable time after said Title Evidence has been examined in which to correct any defects in title.What goes in the blanks?

personally, it gets on my nerves when you pretend to give innocent advice while you're hawking your wares.