River Place is a Co-op that does not own the land the buildings are on. The remaining lease is for approximately 42 years. And, the best use of this land will probably not be to re-up the lease with River Place. Hence, your investment will begin to diminish sometime before the 42 years are up, probably within the next 20 years. As a rental, it's great if you can buy at the right price. Lots of students like it because the rentals are relatively cheap, and the transportation is excellent. For rental purposes, the view and upgrades are not important. So, buy as cheaply as you can, make sure the appliances work and you can paint it and put down new carpet yourself if you can save on the purchase price. There are two major lenders for River Place, and the money is there for anyone qualified. Just be smart on your costs and how long you're going to keep the property. As for condos, there are several areas that are exceptional buys if you're looking to rent it out. Have a discussion with your realtor about your plans and expectations about your ROI. If you have a knowledgable realtor, you'll save yourself from making a mistake you'll need to live with in the future.