Not uncommon to see roofs fallen in or other major differed maintenance. 4) When a "diamond" does make it to auction.  

The roof of the house, especially on the "kitchen" part, is completely gone.

An old roof that may need to be replaced Ina couple years is not a defect.

Take the cost of the home long term add the mortgage, taxes and true repair costs such as upkeep and new roofs , heating and cooling mechanicals etc over the years.

the necessary repairs are as follows:  water heater missing, furnace looks old. paint all rooms, new flooring needed in most rooms, ( something i can do myself), recondition kitchen, replace entry doors. the house already has a newer roof and newer vinyl siding, virtually no work necessary on the outside. given my rehab skills, nothing will need to be contracted out, so i am able to save a tremendous amount of money on the rehab, which is why the following rehab number is so low.

I would be most concerned about the big ticket repairs (roof, hvac, siding, ect).  

The Association also has a couple of aces in hand, several units that were purchased during foreclosures in the depths of the recession that are now rented out, and could be sold to pay for capital improvements like new roofing.  

During the purchasing negotiations, the previous owner was required to have a new roof installed.This was good or so I thought.What I didn’t foresee was that they used a less then admirable contractor.

A new roof, yes, that's another matter.

I noted the age of the roof and 5 years after COE, we replaced it.