The other ones in the complex have sold for about 15k recently, but thats ok just looking for the equity and ownership.Its a really nice secure location and gated in a good area.

Yours are more complex.

Not realizing the implications of having to get permits/inspections for the smallest things in a high end condo complex.

I had some 12 paks of diet coke that we'd bought on sale a few months ago.

Looking at the area, it is surrounded by businesses, storage facilities, a railroad, and very few rental complexes but near a main highway.

We don't have Section 8 here and only one low income apartment complex.

He is right on point.The only thing I would add is:I have a question about your rental comps...You say the comps around town...what about in your complex?

What are all of the numbers, and look at market time of other condos in the complex as well as the surrounding areas.

I've been contacted by someone who sold a small apartment complex to a buyer through seller financing.

About 80% of them in my state are in crap areas (war zones).The other 20% are the ones everyone is trying to buy in much better areas with the same or better rents and lower taxes.With any great deal everyone is looking for the needle in the haystack.I personally do not like these investments because of the intensive time they take and you get one bad tenant and cash flow is shot for the year.Also many of these homes are much older in age with deferred maintenance meaning huge bills down the road.The huge repairs would outpace any appreciation and rent increases in a bunch of cases.In my area jobs are more transient these days.Houses are harder to qualify for with the mortgage process.People do not want to buy a property when they see values going down and a bunch of HOA fees and maintenance bills.They would rather stay in an apartment complex where everything is done for them and can move in a quick changing market and stay fluid.Not all markets are like this and people are still buying homes here but not in droves.I think banks are expecting a fever pitch of buying this summers from home buyers.If that doesn't happen the banks won't feel as confident with the pent up inventory they will still need to liquidate.