You should be able to build an entirely new deck with concrete footing for less. 

I think a large part of building wealth is being optimistic and paranoid/scared to death at the same time.

They pile up fast.If you’re serious about long-term wealth building in real estate, protecting your portfolio is just as important as growing it.

I am eager and excited to learn from everyone and build relationships. 

I have been told by a contractor that the foundation of the building is intact, so it does not need to be torn down but requires a "gut renovation down to the studs."

I did condo conversions for 2 years in Columbus Ohio on buildings older than 1950.

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. 

I'd bring island out a little more. my advice is make sure all rooms are 110 sq ft minimum. some of these look super small. we build a very similar one in our market.

These markets feature turnkey properties, such as new builds or fully rehabbed homes that are tenant-ready, with systems that still have about 10 years of life remaining and property management teams already in place.

You should have been the one who hired the building inspector.