Value add will be increasing rents, lowering dumpster fees, lowering utility costs, new windows and paint.

You already know who's living there, what streets are good and bad, and have all the contextual information about local political views, news happenings, "word on the street", etc.So, my suggestion would be to "window shop" for now and learn the local real estate market first.

So it needed to be leveled and some of the seal replaced, new metal roof, 6 windows and a little bit of siding around bottoms.

They got installed a month or 2 later but they messed up 2 of the windows and to re order them.

The apartment occupies the 4th and 5th floors. 10 foot ceilings.  8 foot wall to wall windows facing east. 

I'm a what I call a "Window Real Estate Investor".

In NC, the following definition applies to common elements:"Common elements" means any real estate within a planned community owned or leased by the association, other than a lot.So  unless owned by the association and leased, then no they may not.Earlier in the by-laws, limited common elements are defined:"All decks, patios and balconies, utilities within each unit, furnaces and any air conditioning, appliances, unit windows and doors, unit floor coverings, all interior sheetrock and wall coverings, shall be deemed limited common elements."

Hi BP,A SFR was originally appraised, but the appraiser did not give 'credit" for the basement since there was no egress window.

Seems like a solid plan...however...we are 29 days into the 60 day window and it is not happening.My Dad is running into issues with all the local, small banks and title companies being scared off of the Quit Claim Deed (and the IRS).  

The home (both sides) were gutted with electric, plumbing, windows, installation, drywall and kitchen remodels in 2009-2011.