I realize that for certain investors condos are a niche they like to play, personally I see too many uncontrollable variables and constraints with little upside, control or in many cases appreciation opportunities.With little control over a HOA that inevitably raises fees and charges periodic assessments that are likely expenditures you would not prefer or receive any financial benefits are inevitable in most cases but surely cut into your profit margins, plus these associations can make renting more of a tedious task than necessary.Also, the upside for any rehabs or overall appreciation will be directly tied in to the entire complex.

The article shows who they are and how they operate locally.Patrick,Here "was" my take on the situation earlier in the year when I heard hedge funds and private equities buying foreclosures.The hedge funds and private equities are gambling with OPM.

With your house paid off , you can sleep well at night , I dont gamble with my primary , if everything goes south , I still have a roof for the family .

Don't gamble with the money you can't afford to lose

Will you tend to be super picky with tenants, or be willing to take the first gamble that meets your qualifications (since they are all truly gambles anyway)?

If you want to gamble with your money, go to Las Vegas.

There is a difference between investing and gambling/speculating.

Essentially gambling that the value of your leveraged assets is going to increase over time.  

To me, that's gambling, and while I don't mind gambling on occasion, I don't do it with with my investment money

That roof job was not cheap.It's up to you if you want to gamble a low ball offer w/o knowing what kinds of sins are underneath that roof and tile.Can you get work done reasonably or will you get held up by high priced contractors?