We owe about 700k on it and it's been assessed at 1.6 conservatively and 2+ by friendly realtor that wants to sell our place.

So that 1 person can decide to do something like issue a $100k special assessment if they so chose, which creates too much risk for Fannie Mae.Risks are high with nonwarrantables for a number of reasons. 

I am negative to not thoroughly understanding, assessing and making good longterm decisions when getting an asset that costs 100s of thousands.

@Damaso Bautista had a good thought about seeing that and perhaps holding the agencies to a standard and it almost needs to be lobbied as an easy and more assessable way to see info on your properties. 2- Seems like you should be able to have this automated  with the departments or main dispatch to receive a email or notice when a call is sent to your property or just a months report.

I'm not buying the 40k, but it's very hard to assess just from the photos.

When giving advice to newbies let's do better and actually assess the situation using real world knowledge.

I have an excellent, cash-flowing 5BR/2Bath SFR in Manayunk that I've owned since 2017. I bought it at a good time, and it reliably rents at top-of-market rates (with no vacancy) anytime I have turnover. Due to the in...

Is that a fair assessment generally speaking, or am I way off?

Condo association fees will rise significantly to cover mandated reserves that normally could be addressed with deferred special assessments.

The good news is that the industry is realizing this & shifting more toward financial planning & comprehensive advice.