Reserve studies are expensive so the fact that they are foregoing the study until 2019 is ok in my opinion.The move from 56% to 27% sounds reasonable as I'm guessing paid for a larger project, but you'll want to pay attention to what the study says needs to be addressed and if the condo will have a shortfall.   

Best of luck with your search and your projects.

I am originally from Greenville, SC and we are about to complete a larger (130 unit) multifamily investment project in Greenville, SC by the end of the year. 

I prefer to expect to renovate the entire house, with a wise selection of improvements, finishes, and staging, and make a projection based on that.

This one rented for more than I originally projected. 

That particular deal ended up falling through anyway, but my concern is that this will continue to happen and I will end up killing many leads when I politely decline advances before a deal is finalized.

As an example, I'm involved in 4 different projects right now with 3 different brokers.

Not one bit of the furniture was salvageable...so they politely left it in the front yard. 

My partner and I have a couple projects going on at the moment in the Cleveland market, but currently don't have someone to take legit pictures or shoot video of the whole process (I like to have good before/afters to keep track of what we've done and attract investors). 

So if it is a 6 month period, if not paid 100% off at 180 days (or sometimes even the statement date which might be sooner) then you owe 6 months of interest calculated month over month.Now, I do use a Home Depot store card to fund projects.