But now it seems taxes have increased, additional government fees, ie lead testing for any property built prior to 2017, and also increases in sewer / water rates.

I can't imagine a government lending agency remodeling properties.

In this case you just have to deal with added hassle of long wait times for inspections, crazy accounting, government employee turnover, etc.    

Let's say your seller bought the condo for $75,000 back in 1993, and today it's worth $300,000 - completely fictitious numbers - but go with it...Where I live (in Florida) there is a cap on how much the government can raise your property taxes a year... it's like 3.5% a year of the assessed value.  

I assume this is a bank owned (REO) or government owned (e.g.

You need to contact the governing body that has jurisdiction over the zoning laws for either the incorporated or unincorporated of the county or city for the plot you are interested in building on.  

they send out governance votes on certain things like sell the property or take a loan against it.

Payments are made by the government via direct deposit on the 1st.

The market is booming in both the business and real estate sectors.

Mid terms are popular right now, but make sure you have another exit strategy that works for you in case the market you choose is saturated, has governing limitations or just plane doesn't pan out.