Hoop, is your Dad Dwight? If so, tell him Jeff says hello and I bet his information is right on.

I am an attorney, have some experience with condo law. Typically, the condo owners have sole ownership interests "paint to paint" as Bildon says. However, they all share an undivided equal interest in the common areas -- walls, stairs, grounds, etc.

So, hoop, you are right. No idea how that will mesh with the property being leased. I wouldn't buy one, that's for sure (not that I could afford one) for that reason alone unless someone came up with a pretty elegant solution for what to do if the lease ran out/got terminated.