@Blake DaileyI actually don't understand all the speculation as to circumstances on this question.

Personally I don't like to speculate so I go for higher cash flow properties.  

In terms of which to go with I think some pros for condos is lower cost of capital as a barrier to entry, lower cost means lower risk on your first deal, most condos include heat and hot water with the fee and that results in a less complex assignment to you as the property manager (assuming you will manage your own), I think condos fell hard and fast in the crisis and are an asset that may outperform early in this recovery (my speculation).Cons - condo fees destroy cash flow in my opinion, when I run numbers on condos those fees just kill the returns, HOAs and condo associations generally stink, there are adjustments where they can hit you up out of the blue for stuff like a new roof, that's a risk that could kill years of earnings out of nowhere.

That is speculating.- Trying to time a bottom of a market simply does not work.

You can then finance your down payment.You can use a Partitioned Note (which I have mentioned before, but no one seems to be catching on to) where one note is made in several parts of principal that can use different amortizations so that you make contributions to principal in the earlier periods....legal in all 50 states.You can structure the same thing in any installment agreements as well, Sub-2, Contract For Deeds or L/Os, as such may be allowed in your area.Without knowing what a specific deal might be, speculation would just get wild and crazy.

I am going to completely ignore any split with their brokers to keep things simple.I am sure most will just speculate like I am, but maybe someone on here knows them personally and knows the inner workings of the deal.Thanks!

Three brothers owned it for a short time, as speculators.

Before we clog the issue with speculation over the word "estate" off on tangents.

Account ClosedIt basically means a neighborhood that people are speculating will increase in value in the next few years. 

Later in life he had good experience to speculate and to run his own projects developing from the ground up on empty lots.