The downside of working on your bike outside if you live in an apartment building is the separation between your work place and your apartment where you store your stuff. If you live in an urban area you better not leave your bike or tools out of your sight very long and if you forget something your screwed.

I got the Park Tool Repair stand from Performance for $110 a couple of years ago and it has more than paid for its self. I use it a lot and it folds up real nice. Justs put one those tarps that painters use over the carpet and you are good to go.