Sounds pretty good. That’s a huge drop in price. Can you find out how many units are actually owner occupied? This effects your financing options.How many are empty? Your time frame sounds a little on the short side as far as having to sell it later on. But if rents stay where they are, you could just rent it to someone. Does the HOA allow this?
One of the major issues with condo’s is the other owners, since you share common ownership with so much of the property. So making sure there are enough other owners to pay HOA’s and keep maintenance up, etc…
