Unless you find a buyer with a very specific criteria who is willing to pay above the typical 70% - repairs.

If the age of your equipment is older, or it stops functioning, those repairs can also add up.

I enjoy interacting with other investors and helping people do better, not measure the quality of questions.

As far as the 1099, that is for payment to owners if you manage for someone else or your vendors whom you pay for repairs and maintenance. 

since purchasing the property with a 10% down portfolio loan through a local bank, I have done extensive repair work and renovations.

Often times they come back with a list of repairs that they would like to see to protect the home or mitigate liability. 90% of the time those items were on our list to fix anyway, and sometimes we even haven't done before we get the letter from the insurance company.

.- Can't see a Senior-Only complex allowing Short-Term-Rentals (STR).If so, SELL.2) What is the history of Association Fee increases and how well capitalized is the Association for future repairs?

Specific example,  I tell all my owners that any minor repair less than $150, i will fix for free.   

Any repair issues the new acquisition has you will feel to much greater magnitude due to the property carrying a lot of debt.

Some of the materials we choose and asked him to pick up (such as flooring) he replaced with low quality materials, I assume to keep more of our money for himself.