Three families are built to different standards, requires fire escapes and cement room furnaces.

Two have been sold to pay for completely replacing most of the cement at the complex and doing other needed work, and two more are in reserve for the day when roofs or sewers need to be replaced or something else major that might not covered by the standard 10% of dues reserve set aside.It is an important point that you bring up though. 

Moisture resistant drywall will be used in all wet locationsAll ceramic tile will be installed on 1/2" cement board or a concrete PaintNew Switches, Receptacles, GFCIs and cover plates to codeHardwired smoke detectorsCarbon Monoxide DetectorsBathroom: Install Ceramic tile on walls for tub and floorInstall new pre-hung 6 panel hollow core doorNew Toilet with ring and supplyNew Vanity with faucet, drain and supply linesInstall new light fixtureInstall bath exhaust fanNew medicine cabinetInstall New TubBathroom Accessories (Toilet paper holder, towel bars, etc.)Bedrooms / Living room:Install new pre-hung doorInstall all trim ( Door Casing, Base, Shoe)Install Flooring material (Carpet, Hardwood,Laminate )Install New Light fixtureInstall Closet door (Type to be decided)Kitchen:    Install Ceramic floorInstall New kitchen cabinetsInstall Counter top (Granite/Corian/Laminate)Install New Undermount sink and faucet Install Ceramic backsplash with accentInstall Light fixturesInstall garbage disposal (if applicable)Install Dishwasher (If applicable)Install all trimInstall pre-hung pantry door (If applicable)All material types will be selected by you and installed by us.

FYI, old roof with no leak, flash cement can take care of wears, minor cracks, and so on with mesh.

My property had rotting exterior wood siding so we decided to renovate the exterior of the house with fiber cement board as well as install new front door and new wood on the front porch and rear stairs bringing the exterior in line with the other rehabbed properties.  

Newer roof, siding, windows, and cement.  

If people are brushing up against it, you are unlikely to ever get the contact cement adhered end cap to stay in place especially if it happens to get warm (sits in direct sun for example)

Hardie boards are not being considered, too heavy of a cement-like board, There are past foundation slab issues, on dirt that wasn't graded right by contractors in this area back in those days. 

(for example if I see that the electrical service to a home has been updated well, a plumbing cleanout has been added, and then cement-fiber siding has been installed and painted well, then that tells me a great deal about what is likely to be true about the other aspects of the home, versus if I see patchwork updates and deferred maintenance galore, that also informs me on what to anticipate inside).- Pulling from tax records and any other public information source, what can you figure out about the layout of the home and the space? 

Ben Siegelbaum I have 3 places built 1910-1920 and they are solid structures with full cement basements.