But doesn't this go against what most sellers are looking to do, which is to be rid of the house and any debts associated with it?

Like you said, there are very little headaches associated with investing in land but it can also be very speculative.

My sister in law just bought a "starter" townhome for $310, with $400/mo association.

You need to take a look at the Association Documents.

He is behid on payments by 5 months now and heading toward foreclosure.

It will all depend on your relationship and where its headed.

A new study goes further and predicts most South Florida real estate projects of this nature won't even cover maintenance fees, property taxes or other costs.In a recent report, issued by the National Association of Condo Hotel Owners (NACHO), it projects returns for typical condo-hotel units in Fort Lauderdale, Miami, Miami Beach and Coral Gables.

If I recall, even that cost a few bucks to join the association or whatever it was.

I sure wish we had a REI Club/Association in my town lol.

I dont know the balance on the note or the monthly payments but it was rented for 1500. so I am assuming he isnt a total bone head and made some $$ on the rent so it has to be lower than 1500.00.