I don't know how large your condo complex is, but for condos of 50 or more units, it would be a challenge to get every owner to get to it, and properly clean the vents if it was discovered  vents were never cleaned and it could be a safety hazard.I also had special assessments for new roofs, other building wide improvements at my rental condos. 

Nick,The whole project was rehabed in 2014 and updated with handicap access on the first floor, new roofs, and better parking arrangement.

When investing in Condos, would you scale back Maintenance and or Capex percentages on a Buy & Hold rental due to roofs, foundation, outside expenses included in HOA fees?

Hi @Ken VirziI just replaced a roof on one of my single family and that was expensive. 

My two main concerns are the AC and roof.  

This is one of the only deals I've seen where cashflow isn't negative. 1968 triplex with 3 car garage on the market for 71 days.Purchase price: $289,900Estimated cost of repairs:  $5000ARV: $335,000 (this is best guess with what comps I was able to dig up)Closing costs: $2500Down pmt: 25% ($72,475)Loan amt: $217,425 amortized over 39 years @ 5% interestUtilities are paid by tenants so I would only have to worry about trash ($84/mo), insurance ($167/mo).Maintanance and repairs: $132.10CapEx: $264.20Vacancy: $132.10Property taxes: $279.67Rental income: $2642.00Cash flow: $415.75Cash on cash ROI: $6.24%I have not walked the property so I can't be certain what the HVAC or roof look like.  

Even if the roof is not leaking, it might 5 years from now.  

The loan was at 380k, punching that into a calc and looking at amortization shows that throughout the life of the loan we would have spent 275k on interest alone to get an extra ~4500/year back on the taxes... it seemed like that small return was outweighed by 1. not having an 2000/mo payment, 2. not paying the extra 275k in interest 3. peace of mind of not ever having to worry about having a roof over our heads.So, I know you are probably going to look at this and tell me that I sound contradictory or it doesn't make sense to want tax write offs but then give up the best/easiest tax write off available to "most" people.

Also, I know I shouldn't let my emotions affect my investment decision, these are all very old houses and I can't help but think that every time I turn around I will have to deal with repairs of the roof, flooring, stairs, driveway, furnance, so on and so forth non stop.  

The are victims of this tragedy and are up front worried about their housing trying to keep a roof over their heads and all they want is to work with you on making a payment.You at any time can do a eviction but like others said the whole system down there is going to be overloaded.. calls to assistance social networks are going to be flooded with people seeking assistance and that takes time to get  approved..