With each of the options there are advantages and disadvantages.

However, I do know that one disadvantage with these properties is that they are not as easy to sell as is the single family property.That's the second issue.That being said, any advice as to what to do with either the first or the second issue or, ideally, with both will be greatly appreciated?

Yes there's advantages and disadvantages of both condos and sfh's, but condos can be perfectly reasonable, you have to research the community.

Knowing that if I fail, its my own da*mn fault-- Many people might see this as the huge disadvantage of real estate, but I see it as one of the largest plusses.

Is there any disadvantage I can't see in making him aware of this?

The main disadvantage is that you might have to wait a significant amount of time to realize that profit (several years many of the time).

Yah lately I have been thinking about the advantages and disadvantages of leverage vs. all-cash.

I've read multiple forum postings about the advantages and disadvantages of having an agent sell your home and the advantages vs disadvantages of flat fee listing services.

I am worried that they might change their rules to my disadvantage .Thanks.

@Rob Shah I agree with Joel that you need legal counsel on this deal so as not to get in a situation that has you at a disadvantage.