PLUS figure out some way to stop the global financial machine for a few months.

What follows applies to Las Vegas and may apply to Coral Gables as well.While condominiums offer a lower entry price and perceived lower maintenance costs, these advantages are often outweighed by operational and financial drawbacks.Higher Tenant Turnover: Condo tenants average under two years of occupancy, causing frequent vacancy costs.HOA Fees: Steep HOA fees directly erode cash flowStiff Competition: Condos compete with apartment complexes offering premium amenities (pools, theaters, gyms, free WiFi), keeping condo rental rates low.Appreciation and Rent Growth: Condos have fewer potential buyers and renters, so they typically have slower appreciation and rent growth than single-family homes or townhouses.Uncontrolled Maintenance Risk: Close proximity leads to cross-unit maintenance nightmares (e.g., an upstairs leak damaging your unit).

Lenders usually require 20 to 25 % down and clean financial records, which also simplify tax reporting.This post does not create a CPA-client relationship.

Even though the project did not result in a profit, it remained financially supported from start to finish.How did you add value to the deal?

My choice to go into this stems from the fact I see this as the key to financial independence, and wealth.

.- Do you use spreadsheets for managing the property, tracking financials, purchases, repairs, etc.- maintenance and communication bottlenecks.- any tasks you wish were automated.I am not selling anything so you can relax. :-) If you’re open to sharing your experience, I’d really appreciate itThanksLokesh

If the property managers have been properly building a financial reserve for CapEx and Emergencies, do those transfer over?

If you can reasonably invest that extra $1,100/month into something earning higher than 4–6% after-tax (stocks, another property, your business), you’d come out ahead financially.

With full financial backing, Vance could focus on managing the project without personal financial risk.

Financially it was great but of course it was a headache.