Daniel,I've looked at a couple of projects like this and leaving all $$ issues aside, the problem I saw was the layout of the structure.There is a reason that most apartment buildings are tend to be long and narrow; it is so a window can be put on each room while keeping the size of the unit 'reasonable'.I recently saw an office property that had a ~5,500 sq ft plate with a center block for the elevator / electrical / mechanical which is a common layout.

@Brie Schmidt I found the following under the Massachusetts general laws defining condos:''Common areas and facilities'' shall, except as otherwise provided or stipulated in the master deed, mean and include:—(1) The foundations, columns, girders, beams, supports, party walls, common walls, main walls, roofs, halls, corridors, lobbies, public stairs and stairways, fire escapes and entrances and exits of the building;(2) Installations of central services such as power, light, gas, hot and cold water, heating, refrigeration, air conditioning and incinerating;(3) The elevators, tanks, pumps, motors, fans, compressors, ducts, and in general all apparatus and installations existing for common use;

Seed   I don't know most of the answers of your question.. however having been raised in Cupertino I have been in a few incubators.. and they look pretty much like you would see on TVthe one that realtyshares started in was in one of the TISCH buildings in Mtn View CA... it was one floor of a 10 story office building it had secure elevator access.when you popped out the central area of the floor was eating area.. of course you have to have a ping pong table.. and some other cool stuff kids like.. then if you can think of all the little incubators along the walls all the way around the floor all 4 sides.. and then some out in a bull pen type arrangements.. it was fun.. kids working on all sortys fo different apps software and things..

Ideally, I’d love for it to have a nice elevation that looks like it was built this decade!

We have found a great contractor but his prices seem elevated.  

I can't blame them entirely, but they don't charge enough monthly fees, so on numerous occasions, the utilities are in danger of being cut off so emergency fee assessments are made to pay them and paid immediately, or they don't have enough funds to do minor elevator repairs.My condos in MA has somewhat of an anti tenant HOA board.

If you don't get a satisfactory answer, or if you feel like you're being jerked around, then elevate the complaint to the NJ Real Estate Commission.

However, qualified improvement property doesn't include any improvement for which the expenditure is attributable to the enlargement of the building, any elevator or escalator or the internal structural framework of the building.3) No, I didn't mean that.

The pre-flood map (PRE-FIRM) buildings were not rated based on the properties actual elevation compared to the flood plain. 

You need a MAI appraiser (it's a specific designation for advanced appraisers that requires an elevated level of knowledge, essentially).