More generally, how much does the building play into the appreciation of the condo?

Anything in a coastal market is more of an appreciation plan than a cash flow play.

While I'd never play around with safety issues, people who rent well below market have to accept well below average conditions. 

@Jacob Maes I know that some investors cash flow fine with condos in certain areas but it isn't something I'd be comfortable with because of all of the external factors that could be at play.

This is where being convincing and persuasive comes into play.

Work hard, play hard!!

In your opinion, is this a decent play to increase my net worth? 

Thanks Drew, will have to play around with the calculator some more after I upgrade to Pro!

Reid,Typically the bankruptcy type & seasoning is going to play the bigger burden with the seasoning. 

I will keep this thread updates as our time with the panels plays out.