If so, the Association usually insures and controls the exterior of the building. 

Personally, I'd avoid that because it means high prices and huge HOA fees and you have no control over your revenue stream so this isn't the best way to get a great ROI.

., more than half of the calendar year) for the Borrower's personal use and enjoyment·The Borrower may rent the property on a short-term basis provided that the property is not subject to any rental pools or agreements that require the Borrower to rent the property, give a management company or entity control over the occupancy of the property, or involve revenue sharing between any owners and the developer or another party·The Mortgaged Premises must be in such a location to function reasonably as a second home·The second home must be suitable for year-round occupancy with the following exception: a second home with seasonal limitations on year-round occupancy (e.g., lack of winter accessibility) is eligible provided the appraiser includes at least one comparable sale with similar seasonal limitations to demonstrate the marketability of the subject property.

Many have, for all practical purposes, lost decision making control. 

I met through an agent, an investor that his pdf presents him as a huge player. he has deals for over 2b all over the world. yet his online presence is close to nothing. both as a person and a company. is this real?

The left side is where the controls are. 

In that case, you can simply have the account at a bank or brokerage where you will have direct checkbook control.3.

The insurance down there is really getting out of control and about to get worse. 

I see it similar to gun control.

@Joe VilleneuveHaving a better idea of the property condition in real time, controlling who moves in next door, maybe savings on repairs by combining primary and investment capex expenses (IE, a painter might give us a better deal painting both properties at once), really knowing tenant and planning for future lease extensions or termination.All arguable of course.