My first quote from state farm was through the roof because they were going through the NFIP.

There aren’t that many lines - allocate the shared expenses to each side -like a roof or property taxes - at 50%.

My capex budget includes but is not limited to: roof 25 year life span, floors 10 year life span, appliances and hot water heater 12 year life span, hvac 20 year life span, kitchen and bath remodel 20 year life span etc.

The house is in the West Virginia panhandle and needs less than $1K in repairs to fix a small roof leak in the garage.

Let's assume:nothing is brokennothing is amazingall major items are "fine" (it doesn't need a NEW roof, but no major leaks)no poolno car ports or garageno dog parkmixed units 1/1, 2/1 and 700-850 sq'water, gas are billed If you are about to answer this with a: "Well it all depends on the circumstance, no two properties are alike." please move on.

Upon taking ownership we realized the roof was in dire need of replacement.

Sounds like a water leak issue.....bad liner, improper water sealing techniques, bad plumbing...all kinds of causes....How old are these units?

That being said some of your Large capex expenses are cover by the HOA like roof and exterior.

You could do a reno to your unit as extensive as a full remodel, or just a roof, HVAC system, and/or upgraded electrical service (you get to add it to the reno because it affects your 1 unit but it is great because that infrastructure improvement benefits the other units incidentally).

It’s also a good opportunity to install storm-proof amenities (windows, doors, roof, etc.), which raises the value/rent.