NOW, if we are to have the HOA responsible for the interior of each of the units as well, here are the eminent problems I foresee:    - owners will be even more careless and act irresponsibly for their units since they don't pay for the repairs of the interior of their units    - because many of the owners rent their units (technically they sublease), they will be even less incentivized to maintain their units    - the HOA pays for all maintenance and repairs of units and owners get the benefit of rent    - repairs/maintenance of units is not properly proportioned to their respective owners, meaning that there is no incentive to keep my property up because any repairs will come out of the pocket of all other owners    - this penalizes good owners and rewards slummy owners    - this will put the owner residents at a big disadvantage because the owners who rent their units will cause maintenance fees to increase for all owners, especially due to high turnover    --> in Summary, this is a straight example of socialist-style system (I know, my family immigrated to the US from the USSR) and it will just sink our whole Co-op.  

Both have their advantages and disadvantages.  

Some potential drawbacks to keep in mind are:Additional closing and loan origination costs (two transactions/mortgages instead of one) - speak to your lender and title company about costsTwo insurance policies instead of one - probably close to double the insurance cost as compared to a duplex - get a quote from a good insurance agent and compareTwo sets of property taxes instead of oneThese certainly aren't deal killers, and the benefits noted above may outweigh the disadvantages.

The disadvantage is that it is one more person you need to notify/serve if things go south.

Capitalism is about trading what you create with your advantages for what others create with their advantages (that you are disadvantaged at).

Wow, that puts non-realtors at a super disadvantage. 

Advantages, disadvantages, etc.

I found in Rochester a few different markets, each has advantages and disadvantages. 

Bottom line us both have advantages and both have disadvantages and it comes down to personal choice.  

... I still don't know what to call the alternative, the one where title is transferred. promissory note? loan agreement? either one + mortgage? so many terms and many interchangeable idk. so help with that woul...