I am not a bankruptcy expert, but isn't that procedure used to release people from existing debt but not monthly expenses.  

Many traditional banks won’t touch them, and even DSCR lenders will avoid them if the build out is done prior the securing long term debt. 

Those special assessments will not be enough, and the reality is the association will likely be taking debt to approach these projects (eg. paving the parking lot, residing a building) and that financial burden would be on the owners and the association. 

The general rule of thumb when using debt is to ensure that whatever asset you buy with the debt should make more than the debt service.  

They have to prove to any relatives and "legally" interested parties, (court, relative, creditors, etc) that all money was collected and all debts were paid.  

My brokerage sends a weekly rate sheet for typical debt sources for multifamily and commercial assets (bank, agency, cmbs).

It sounds like your current bank might be hesitant to provide a loan for the next property until you can prove that the current property provides enough income to support your overall DTI (Debt to Income Ratio).

Usually that means that they have hard assets that can be liened and potentially sold to pay off the debt.

That's not the same as paying cash.According to a different post, your credit card debt costs you $600/month.

So I carry effectively 0 debt.