Fractional Ownership of Vacation Properties

Would you rather buy a $500,000 basic condo in Lake Tahoe by yourself or a $3,000,000 stunning home in Lake Tahoe with 5 other people? You say "but I hate other people" - yes that may be true. What is also true is that realistically you will not spend more than 60 days in either of these places per year. And, the $3M stunner is unbelievably beautiful. Add a competant property manager - which you would have in either case - and you have luxury and utility at a basic price. What would rent out better, by the way? Now, your long term plan is to buy out your co-owners piece by piece. Crafty, huh?