this other one I remember was, I person living in a condominium shared a parking garage what time of ownership does he and the people own in the garage?

Lynn says this is household money.

It also sounds like you are talking about condominiums/fractional ownership.  

The disclosure statute, effective for instruments executed on or after August 1, 2013 and modeled in part on the condominium/townhome disclosure statute, requires a “multiple seller” of residential real estate selling on a contract for deed to provide certain statutorily mandated disclosures.

Now, there is a large market for working class folks, who make around $30-45k gross household income that have decent stable jobs that have around 550-640 credit scores that need housing just the same.

How much is your monthly household income?  

So, being a newbie, it is my understanding that 50% rule simply states that 50% goes to costs of property and then 50% going to debt service (and the remaining from debt service is your cash flow).My questions is simple, does this apply to condominium units or just SFH?

Sure its a little slower, but when you have a vacancy in the winter you learn that many of the reasons for household moves (divorce, new job) happen any time of year, even in Milwaukee.  

If you're interested in managing condominium or homeowner's associations the Community Associations Institute is one that I see frequently.I can't say that I've read many books on the industry aside from course texts.  

What is the local economy (is it broad based or based on one sector) What is the median household income?