A lot of syndications look for value creation through repositioning, professionalize management, etc.Looking specifically at “c” it’s hard to reposition the property if someone else owns part of the property and if you keep the PM it’s still the same management.So maybe it’s an awesome building and you’re buying a conservative yield play with the potential to recognize the “bought it right” equity on exit?

We plan to play a lot of this by ear as we don't know where we will end up as we learn. 

Also, you need to see if the individual condos would sell for more than a 2 family house.  

With growing population, taking a single family lot and putting it to its highest and best use, based on zoning, is giving more individuals the opportunity to move into the area.That being said, there are still plenty of ares that the middle class can purchase.  

They might have a list you can just look at so you don't have to go through individual records.

It would be a good idea to see how they are covering the building for flood and all other insurance because you are owning a % of the building however each unit owner is responsible for the whole building and that is why Even if you are in the Penthouse you will likely have to pay for the portion of the flood insurance, even if your individual unit is less likely to flood everyone in the community is responsible for the damage (any damage) to the building. 

A C-corp traditionally has been a poor vehicle for rental real estate but now with a lower 21% tax rate, is becoming a better alternative, especially compared to an LLC which can be taxed as high as a 37% individual rate since LLCs are pass-through entities. 

Fellow Illinois landlords and property managers,A year ago I rented a home to two individuals who met most but not all of my minimum requirements. 

I'm not a single mother though, I will have help from the father (that info plays into my money expenditures).

I learned years ago that I cannot (or should say will not) play in this scenario.