The Masdevallia orchid is among my favorites! These pleurothallids have a reputation for being difficult to grow, but nothing could be farther from the truth. They are persnickety if the temperatures are too warm, though, hence the bad reputation. Give them cool temperatures and they are quite easy to grow.
Masdevallias absolutely need cool temperatures to survive. Though it varies a bit from species to species, I would consider 68°F (20C) as a maximum for most species, and it should cool at least 10-15°F further at night (6-8C). The more light, the cooler the temperatures need to be, and vice versa. They will also need more water at higher temperatures. They come from cloud forests in the Andes, where fog, mist, and rain are ubiquitous.
They like high humidity; 70-100% is ideal. You'll need a lot of air circulation to prevent issues with fungi, mold, and other orchid diseases. (Physan 20 is useful in treating it if it appears.)
They can't store moisture, so they should never fully dry out; water as they approach dryness. If the humidity isn't as high as the'd like, water a bit more often. Actually, they're pretty hard to overwater unless you overdo it enough that they can't get air to their roots. Sphagnum moss and fine bark are both good potting mixes to use. Due to the moisture, the potting mix will break down quickly, so it's usually necessary to repot these orchids yearly.
Some Masdevallias are more warmth-tolerant than others; if you see vertical, pointed leaves that's an adaptation to reduce the amount of light the plant receives, allowing slightly warmer temperatures.
Lighting needs vary. Species with thicker leaves generally want more light. Experiment to see how much light they can tolerate at the temperatures you're able to provide. Low light, similar to what you'd use in Phalaenopsis orchid care, is what I'd start with.
You can also try growing them in an orchidarium, which makes providing enough humidity easy, and allows easier temperature control.
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