Further, properties in VA do not trade on a price per sq foot basisI like the Charleston SC  MLS  in bold letters at the bottom of the listings it says.. " IF SIZE MATTERS MEASURE" We just sold a new build that my architect put 2010 sq ft which my wife relied on.. since it had not been assessed yet it just shows vacant lot on tax records.. appraiser came in at 1825  sq ft.. same thing they wanted to know what we would do about it..

Investing in a "vacation" condo has many negatives, all laid out by Bill.You are better served to pay for your vacation rentals and own better rentals yourself.The negs of condos are mostly - HOA, higher turnover rates, higher vacancies rates, the potential of the HOA to make new assessments, and having to get permission from the HOA to do anything in your rehab project (as applicable).Will

Best place on the web for comprehensive Real Estate advice and it's very well moderated too.

One other thing tracking roe does is provide you some risk assessment data.   

You can accomplish alot by incorporating a flexibile and comprehensives operating agreement.

I searched all over the forums and found a few mentions but nothing comprehensive.

My 3rd grade teacher always said I had a problem with comprehension. :-)I thought the flaw was in the marble itself and that was opening up the finish.

You will need to be able to understand and assess the information presented and make your own decision based on that assessment.Long contracts do deal with a multitude of issues that may come up during the closing process and therefore can help to alleviate possible disagreements that might arise.

Buyers of a foreclosed first lien in NC shall not be liable for the unpaid HOA assessments.

David, I hope you are right, I agree with your assessment "I'm leaning toward buying these houses through private lenders at this stage.