Condo conversions are kind of old school, the attorneys we spoke to recommended just doing an HPR (Horizontal property regime).

@Kat RobertsonSo this is a horizontal flue chase? 

not including the price of the dirt.. my lots are worth 140k each when I do all this I paid 50k a lot ra.. so the delta is 40k per lot and then I build the homes and make another 60k per lot on the vertical.. this is phase one of 3 phases 89 lots in total.. we paid cash 5.2 million for it. then got bank loans for the horizontal and will get bank for the vertical.. this will require about 40 million in debt and make us about 10 million net over 2.5 years.. that's how U back into development. 

Depending on how bad is the foundation state (how many inches you have to correct), is very possible the sewer line will disconnect/break in the horizontal portions.

For basements they generally need to be placed at the foot of the staircase on the ceiling, do not put them on a wall horizontally.  

You can run a trim band horizontally around the building to separate the top and bottom siding.  

Some of it looks to have a horizontal pattern with fairly regular spacing, and I would guess that those widths match up with the slats that go under the old plaster and lath walls (what they used before sheetrock).I’m also going to guess that wall has no or little insulation in it (as the entrance to a duplex, it wouldn’t be living space that needs to be heated)So I would guess it’s being caused by moisture that’s condensing on the interior surface of the wall. 

I found it easier to spread it on horizontally than I did vertically but whatever works best for you. 

From my understanding it seems very unlikely for a sewer backup to ever happen because it's vertical rather than horizontal slope. 

I apologize in advance for any horizontal pictures.