As far as investing in condo's, I've know several people that have had bad experiences in investing in them, given the condo associations, assessments and the rising foreclosure rate that effects everyone in the association. You must really do research, or have an agent , help guide you in this process so that you know everything there is to know about the unit and the entire association before investing. Look me up on Sibcy Cline's website and give me a call if you have any further questions!
(that should answer your question about investing in Monroe)
Let me know if you need any assistance.