You should definitely take that into account.CapEx Reserve - all those furnaces and lighting and flooring will eventually need to be replaced. 

may need to update1st Floor Front Door needs replacement Kitchen Tile Flooring Appliances new Sink, cabinets etc Recessed lights Bathroom Update flooring, vanity, toilet Fix ceiling in family room Flooring in family room (engineered hardwood flooring) New electrical panel (200A) New back door to kitchenOutside Roof has shingles missing from the weater either replace or repair.

At the same time, the expense and ongoing maintenance is something my investor friends warn me about and I have a little experience with already.What would you do?

Perhaps they are just light on work at the moment and wanted to insure that they got the job. 

-Roof - roof has a leak -Tons of water damage - mold is horrible in the basement- Walls are all beat up with holes everywhere( looks like their was a royal rumble in the house) - Kitchen ceiling is cut open- bathroom shower wall is ripped open and ceiling of shower is cracking- windows are leaking - kitchen floor is buckled up from water damage- Both upper and lower deck are in horrible condition( i was honestly afraid to walk on it) - Outside molding around windows is cracked and damaged- all outside lights are broken- carpets every single one is ruined- Bathroom sink is shot- Kitchen cabinets all have water damage- And again ill say their is a big mold problem so i have no idea how much that will cost.The condo has 6 rooms , 2 bed rooms , 2 full baths , 1 half bath 1280 sq ft.

I read what you posted and when given "Don't worry the wait will be worth it" type of emails, that sends a warning sign.  

Does require anything more than painting and changing a few light fixtures. 

If any of you can shine some light on it for me, it would be great.

@Wayne Brooks good on D about having a third-party however she might be even more questionable about a third party even contacting her for the reasons stated that would probably be uncomfortable so tread lightly as well

Does require anything more than painting and changing a few light fixtures.