We do not have the issues like they have in florida with concrete deterioration etc so its not as big a deal here.

I am wondering if anyone has dealt with similar issue before?

Any current roadblocks including time-to rehab permits being issued, local landlord laws/trends, property tax to rent YoY trends, etc. 

Better cash flow, but more tenant issues in multi-family. 

If the fire department needs to siphon water from a pond or lack it impacts the ISO rating of the department.Try and find out what the issue is and share the info here.

Recently, it was determined the building where the underground parking garage is (which is separate from the condo building) had structural integrity issues and people were advised to vacate.

But if its humming right along and has no operational issues then your probably going to pay much more.  

It’s 4 blocks away from a major university health center (and embassy suites for hospital visitors) and 2 miles from another hospital (possible travel nurse MTR potential).

:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+, zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680, some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.

Just wondering if anyone has done this and what safeguards (contract, insurance additional coverage etc), if any, they felt were necessary, and if they've had any unexpected issues.