Everything is either worn out, or deteriorated, even the front door is broken, and decayed.

The electricity lines, gas lines, water and sewer lines going to each pedestal does deteriorate over time. 

The owner owns an abundance of real estate but is getting old and has started to let his properties deteriorate from neglect. 

Housing stock will deteriorate noticeably, and even more so if the owner can not increase to market rents during a vacancy.    

You'll also want to ensure you have a good property manager to look after the upkeep of the property if you are not there to notice anything deteriorating or which may need attention.Creating an LLC in California would cost you a minimum tax of $800 every year.

I understand that if not deteriorating and left undisturbed asbestos is not harmful.

The water heater needs replacement, air handler filter is close to replacement along with the condensing unit, the dishwasher is inoperable, there is water damage below the sink, and the bathroom sinks have coating deterioration.

Will nearly 50% currently delinquent (and nothing can be done to make them pay with current economy) guess what happens if this is the time any of the following need replaced: parking surfaces due to deterioration of assphalt-Carport covers due to rust or excess snow crushing them- roof finally gives up the ghost and only 3 owners are currently paying their fees.

They don't deteriorate overnight.

Now, since the sale date is rapidly approaching and the HOA will receive ZERO in the event of a "back to Bene" result at TS, we are in a rapidly deteriorating Nash Equilibrium.