If the reinspection reveals that the deficiencies have not been corrected, the license shall be cancelled.

My guess, from what you've said, is that probably unlike your (sub) metered gas and/or electric, your water bill is rolled into your HOA dues payment.If that's the case, a quick read of your association's governing documents will probably show that yes, the association can pursue a variety of actions in pursuit of back-dues, including cutting water service, not granting you permission to sell or rent the property (sales/rentals of condos require condo board approval of course), and even placing a lien on the property generally (which could totally screw you).Hiring an attorney and maybe owning the place?

On top of that you'll be responsible for a variety of other fees like HOA, taxes, services fee, utilities fee, misc resort fees etc etc.  

Could be a variety of things.

A quick Google search will reveal several viable options. 

Surely, a variety of scenarios exist but generally speaking, if a commercial listing has (accurately) stated the net, it does not make sense to me to deduct 50%(I've been analyzing deals, bought the BP books and found the BRRRR strategy interesting so I've looked at residential, multi-family and also bigger projects and I'm open to all, if the math works.) 

On the market there a full variety of programs that covers wholesale, flip, Airbnb, rents BRRRR, commercial, condos, land, etc. each of these strategies bring their own complexity.

People like IG @sdeanrealestate provide info on the legal and financial side of things including the variety of grants available for small businesses.

Variety of factors in play, but that’s where I’d start. 

@Zach Plackemeier There a variety of funds out there.