While a more robust conversation around your entire financial picture would be required, here are a few questions that I'd want to double click on first:Where is Your War Chest?

The smaller investors could look to pool resources to potentially a class action.

If uncertain, a financial advisor or real estate attorney can provide tailored guidance.

This is not ideal but financially the best path. 

I'd love to walk you through our market and be a resource for you.

I've been a financial planner for 17+ years and one of the main umbrella theories I've learned is that often times, the simpler things are the better they are. 

With all the resources available today to research and learn about the industry, I’m surprised this “easy money” mindset persists.To me, real estate is far from passive or simple.

Those special assessments will not be enough, and the reality is the association will likely be taking debt to approach these projects (eg. paving the parking lot, residing a building) and that financial burden would be on the owners and the association. 

If you have any tips, advice, or resources for a new wholesaler in NC or if you're just up for a chat about the industry I'd love to hear from you! 

(Michael's posts are a great resource for this, but still no substitute for working directly with a tax accountant that's well-versed in all the ins-and-outs of this.)