Later I was able to buy the vacant lot between for a grand total of about 2.4 acres.All the houses are in bad shape.

Don't know if that's a bad thing or not.

If you just hire the cheapest or first PMC you speak with and it turns into a bad experience, please don’t assume ALL PMC’s are bad and start trashing PMC’s in general.

Most of the bad noise right now is about downtown skyscrapers and REIT or Syndication apartment complexes where they played short term versus long term interest rates wrong.  

Anyone trying to tell you a certain asset class is good or bad these days is probably trying to sell you something.

If you just hire the cheapest or first PMC you speak with and it turns into a bad experience, please don’t assume ALL PMC’s are bad and start trashing PMC’s in general.

Just like most things in life there are good and bad to both choices. 

Is this a good or bad idea?

Lots of other people had bad experiences. 

But my realtor said they are going to do special assessment on this property and HOA runs badly. ( We requested HOA reserve document but no answers. ) We wanted to wait to see how special assessment going and close.