We have two floors -1 bed with ensuite on that floor and a half bath, upstairs three bedrooms, a common living room and 2 more full common baths.

I have always thought of the 1% rule of an initial purchase goal but to up the percentage through time.

I'd be happy to meet up and hear more about your ideas and goals around investing in the Reno market. 

Hunting for your first purchase in Pinellas County sounds like an exciting adventure, especially with the goal of house hacking.

Appreciation and long term play is my goal. 

What are your investments goals?   

My goal is to buy at least one more property this year and use it as a STR.

I've also come across an article authored by a renowned attorney in Illinois Condominium Law (https://www.cai-illinois.org/liability-condo-associations-damages-caused-failure-common-elements/) which states that since the association neglected to address the masonry issue, which is a common element, they bear responsibility for damages to the limited common element and the interior as well.

As far as first term investor, it just depends on your goals. 

I don't know about challenges they face, but one thing I'll say is commonly overlooked is sensitivity.