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XVP - Opinions for Condo Property Appreciated

I recall that awhile back there was some discussion on the pros and
cons of buying into the Palms condo project. I'm considering putting a
deposit ($5K - refundable) on a one bedroom condo at the Hard Rock
Hotel's project. I live in L.A. so I'm thinking of renting it out when
I'm not in town, but am not sure on the market for such things since
I'm not from the area. In the local papers here it's been reported
that several Hollywood celebs, including Britney Spears, have put down
deposits for the 2.5 million bungalows, so you'd think that having
such "neighbors" would be a plus; but then again, it might be a
nuisance and the property value would go down! Any input good, bad or
indifferent is much appreciated.

Karen V.