I would still put a hardi board or cement board on it.

Getting the right agent for a muktiunit is key. 

It seems like the homeowners have already spoken, but the board just won't quit until an assessment is eventually passed. 

Thanks @Ryan Cox, I'm still deciding if I want to buy my first investment through a turn-key or do the buy / contract rehab myself.  

Ya don't get me going on lease option rip offs and sub too rip offs.. one of the great things ever invented and I my dad found them in middle or late 70s was the AITDall inclusive trust deed in CA that is a great document and to the extent you can keep a transaction above board IE no ripping payments or rents from the seller this one does it.Brian Burke has some great war stories on foreclosures as well.I have been pretty lucky in my day.. other than houses that when I bought them were fine but by the time I got in them they were stripped to the studs  LOL.. but I have had others were the people moved out and it was broom clean.. never know.

@Tianyun Zhang Very tough to get a spouse on board who is not open minded enough to have a conversation about the topic.

@Etahn Smith The key for any landlord is to make sure you take your time and screen tenants the best you can and get rid of them as quickly as possible.

Local knowledge and know-how is key - obviously.Many thanks!

Even when they tell you that the property is sold, continue analyzing and find out whether you would really pay asking price after knowing all the financials, recent repairs, board of association, recent changes in regulations, etc.

Not sure how management company or HOA board can defend themselves on this.Thanks.Terry