Ask for a reserve study from the HOA to see the expected remaining life of some of the larger cap ex items, such as roof, parking lots, central heating/cooling systems, or hot water heater systems if applicable to that complex. 

I don't disagree with you from a pure investment standpoint but the further I go on a business owner/investor the more I'm of the opinion that we need to take responsibility, if we have the power, to provide, in this case, energy efficient items if the cost is within reason.

I state that the tenant is responsible for clearing any and all clogs and I give a list of prohibited items to flush.

Now labor costs and materials might increase over time doing in stages.If money is available today then maybe if you can get zero interest same as cash from the contracting company than might can do all at once.Windows for tenants are seen as a MAINTENANCE item and NOT an upgrade.

When I first started lurking on BP I was thinking that an attorney would be an attractive partner for some people, but I am getting the impression that most people around here view their attorneys--if they have one at all--as a line item expense on their budget and not an integral part of their operations.  

Capex  should also be factored in as long term expenses for roof and mechanical items.  

I have a list of people who can sign for purchases so this makes it easy for my handyman to get items needed for repairs.

George hit the books.. you can read on BP here or simply go to the library and read how to real estate books.. the other thing is you can buy used guru materials on e bay for pennies on the dollars most of those have some good actionable items.. and also of course many items that are not realistic to down right illegal. 

@Shelly DorisAn independent appraisal is not a item that needs to be disclosed in any state I have ever done business in.

Podio is very customizable so it serves as the "central hub" or "interface" and creates the relationships between items.