I bought them because they were on the cheap and renters don't care as much, but resale will suffer at exit.

The tub was the type that also had the side walls as one entire piece so along with the tub that was cut out was the walls as well.I contacted the home insurance and was later told that they were unable to cover any costs associated with the replacement because it was considered "over a period of time damage" and not sudden.I was well aware of how to demo all of the old tub and to clear out the area but after that my youtube education began.

It depends on the contract some will say only certain pests while some will cover general pests. 

The one person paying the mortgage is also the one person that gets (and reports) rental income (settle among yourselves once in a while, like if Joe gets shafted $25k from doing this then make sure you get right with him at some point - buy him a Subaru, or each of you cover $12.5k of his slice of the next down payment, or something). 

He covers 9 or so properties for me. 

My plumber disagrees and says I should be proactive and do the fix to prevent a larger issue in the future.Thoughts on if this is the condo board's responsibility and whether I should cover the costs for the fix?

The property should be able to have rents that easily cover the payments as well as cash flow positive (money into your pocket every month). 

Insurance will do most of the job for you, but the insurance companies will always try to find a reason to say that an incident was not covered under the policy.For federal tax purposes, single-member (single-owner) LLCs are disregarded entities. 

. $15k will likely cover everything else though.I think that's about it.

From there, obtain payoffs on all liens and make sure your offer will cover closing costs and all lien holders will be paid in full.If your offer less closing costs will not net a full payoff to the lender(s) and lien holder(s) then you are falling into short sale territory which is going to require you to obtain approval from the lien holders to release their lien and settle on the debt without obtaining a full payoff.Both can be completed, but it depends on the specific situation and the status of the upcoming auction.