It would be a good idea to see how they are covering the building for flood and all other insurance because you are owning a % of the building however each unit owner is responsible for the whole building and that is why Even if you are in the Penthouse you will likely have to pay for the portion of the flood insurance, even if your individual unit is less likely to flood everyone in the community is responsible for the damage (any damage) to the building. 

A C-corp traditionally has been a poor vehicle for rental real estate but now with a lower 21% tax rate, is becoming a better alternative, especially compared to an LLC which can be taxed as high as a 37% individual rate since LLCs are pass-through entities. 

They should have a list at their disposal to call and generate some interest.

Fellow Illinois landlords and property managers,A year ago I rented a home to two individuals who met most but not all of my minimum requirements. 

Insurance companies keep a national database on homes and individuals regarding their claims.

@Margaret Buoncora,  If these are sold individually then each one of them constitutes a separate 1031 exchange with it's own unique timelines and reinvestment criteria. 

If they insist on sending individual rent payments, we charge an administrative fee to cover the extra bookkeeping effort and bank charges.

@Terry Lao if bad management continues, it will keep hindering potential buyers’ options for financing, therefore, keeping the market value of those units down as they aren’t “marketable” Only options for a potential buyer are private mortgage and/or pay higher rate.I had this scenario myself where I owned individual condos in buildings governed by associations.

I bought a 2BR 1BA which I was able to rent out and generate some income.

So is changing sectors from residential to commercial or passive fractionals - all depending on th individual facts of your case.