But if it's a 3 unit building (and not condominium units), it's extremely difficult and takes a long time (if ever, to convert to condos).  

The process is called condominiumization.

In order to bring my unit up to almost the same shape, it will cost about $25k (update kitchen & appliances; flooring, update bathrooms, dual pane windows, scrape ceilings, paint, etc.)Is it worth $25k investment to upgrade the condominium and then sell (based on the value of the unit in escrow); or should I do the basics (new paint, rugs) and then sell (based on the appraised value)?  

Or a condominium and the owners have multiple units?  

@Hao Dinh: If you are a member of the Texas Association of Realtors, you can use the "Residential Lease form TXR-2001 for a condominium.

I'm looking for a condominium or townhouse/townhome which may be in foreclosure.

I am a Los Angeles realtor/investor looking for your opinions on my current investment.I own a condominium in Los Angeles which has built equity of about $200k (including selling costs).

Hi,There are quite a few new listings of condominiums in the Kansas City Downtown.

I would like to get out of the condominium market and more into the single-family and multifamily house market.

For comparison, the national housing inventory is also at a 4.2-months supply, according to NAR;- Townhome/condominium sales fell 2.9 percent year-over-year, with 641 units sold.