I'm a Pro Member with a Market Place Ad trying to Sell Condominiums out right or by owner finance arrangement and "Charitable Trust" arrangements.  

What Fred Heller is talking about is the problem often with condos, banks want to see a high owner occupant percentage to feel comfortable doing a loan in a condominium complex.  

I also recently saw a condominium hit the market, 2bd/2ba with about 875sqft., ask was about $280K.

Tenant shall further be responsible for complying fully with any condominium or HOA requirements for dish or cable installation. 

And by the way, yes, there are restrictions on owning land here (owning land not that simple unfortunately but possible)-- but properties with condominium titles are available for foreigners to own.  

Your home can be a house, apartment, condominium, stock-cooperative, or mobile home fixed to land.If you meet all the requirements for the exclusion, you can take the $250,000/$500,000 exclusion any number of times.

@Alex SanfilippoThe model you are describing - leasing by the room (I doubt you can legally lease by the bed, nor would you want to) - sounds like a rooming house/complex ... regardless of the fact it is a condominium complex.If this is an existing operation and you are merely taking over management, I presume it is in compliance with zoning - i.e. it is a sanctioned rooming house.  

The homeowner's association language restricts rentals and reads:No more than twelve percent {12%) or seven (7) of the Condominium Units may be leased orrented to non-owner occupants at any given time.

Disturbances can create a major problem for the property owner, especially in a condominium or gated community because the owner could face fines and other penalties.Your property manager can perform periodic drive-bys at night to ensure everything is under control.

And again, the $/sqft metric doesn’t account for that.I hope it’s obvious how the price-per-square-foot calculation isn’t enough (on its own) to properly compare the prices of two properties against each other.Where it does work is if you are comparing kind-for-kind homes in a development or a Condominium building where amenities, view and fixtures are comparable.True market value is what a buyer will offer, and a seller will accept.