8 units HOA convert to one multifamily property?
Hello all,
I am currently owning 7 out of 8 units in a small condo association. Each unit pays 200 for HOA fee.
Does it make sense if I acquire the last unit I havent own and convert all units to a single multifamily property? The reason for me is that I can increase cap rate by not paying HOA fee every month(7 units x 200)..Any pros and cons?
please advise
thank yoou