If I remember correctly, it's freehold.
The place is just next to venice hill, right.

Other than the things you're concerning, and you've seen the current situations; Another thing is the owners who are NOT paying the monthly maintenance fee is more than who pays, what do you think then?

IMHO, RM245k you already can get elsewhere although with smaller size, but definitely much better.

Like I mentioned in above, fewer owners paying maintenance fee, would you think the current situation will go better or even worst? The surroundings? No facilities besides the really very small and not so clean swimming pool.
Have you ever thought about break-in and blaxx crimes?

Some more sharings from what I knew:
Units occupied by MasterSkill students news? Already heard about it years ago ...
Good rental, you already seen it how super low is the occupancy rate, it's like that since day 1 ... where are the tenants?
No one knows about the future, just that for now, this is a definitely a high risk bet.

My 0.2 cents.

If you're still keen on it, probably you can check it out yourself with MasterSkill, would it be better?
Not racism, just to check majority of their students are blaxx, right?

Make a new post with your budget, locations you're looking for, people will give you suggestions.