All Forum Posts by: James V.

@Chris Seveney

Thanks Chris! The questions, helps me understand what is important.  

The building is a 10unit condo building, of which I own 1 unit.  There are individual a/c,heating, gas/electric, shared water, units and each unit is individually privately owned.  2 stories, no elevator.   Building is 40 years old.  

My first rental is a condo. It is in a great area and cash flows well, for now. My concern is the HOA and state of the building. The HOA funds are limited and if something happens, there will likely be a special assessment; roof and/or exterior paint are the big ticket items that are near end of life according to building assessment. And HOA insurance coverage is very minimal so if something does happen, HOA likely won't be able to pay for much.

Trying to figure out what to do with it.  Should I continue renting or sell and get a different property since I think the condo is a ticking time bomb for a big project in the future.  

Let me know what info you need to help me figure this out.  

Thanks!