Washington condo in distress

[Gerald L.]

i was looking at a Washington condo, where they just had an emergency assessment, the city required the condo association to redo the club house due to land slide. the association came up with 1.5 million dollars to make the new clubhouse. charging those that have cashed their condos and putting liens on those that financed. After the renovation of the clubhouse i presume they went bankrupt because this was 2 years ago and the club house is completely empty. And the property is looking understaffed. The floors are maintained but the stairways reek of spider webs. Many foreclosures and sales in this complex. market rate for these condos are anywhere from 120k to 289k. pretty leveled with market asking I found one unit that is currently being auctioned off starting bid at 15k. i'm thinking about biding to 50k-60k My question is how likely could a condo association being hit with such fines recover and re-beautify the area.