Hi Bill
From memory, I can't really do justice to the FT article but it did point out the following:
1. The schemes are complicated, more so than many people realise. For example, the properties are generally let through commercial leases which are more restrictive from the investor's viewpoint than normal residential leases. It appears also that management companies can re-assign leases without the owner's knowledge, meaning that you can sign up with a reputable company and end up dealing with a fly-by-night.
2. the tax benefits attaching to them really only are of any use if you hold the property for a considerable number of years.
3. Expert opinion is divided as to whether they are worthwhile at all. As I said above, some UK estate agents refuse to handle them.
Please dont take this as any sort of accurate summary of the article as when I read it I didn't expect to be asked to summarise its key points. I do think that if you are considering investing in any such scheme you would be wise to spend €100 on an FT subscription to locate this and similar FT articles. You will get a level of critical analysis and (seemingly) independent comment that is streets ahead of most of the advertorial guff that passes for property journalism in this country.