It's a fun exercise to divide the replacement cost by your estimate of the items useful life to calc out how much you should theoretically have in your reserve fund each year.I'm a long ways from theoretical, but at least I know how far off I am.Best to you.

If it is all common you could just say the common areas are for the quiet enjoyment of all and items placed in the common area should not interfere with the quiet enjoyment of other residents and are subject to rules and guidelines that the owner shall put in place from time to time.  

Instead of renting the traditional way, I'd like to do a Lease To Own or a Lease with an Option to purchase.  

But in a market where many would-be homeowners cannot qualify for a traditional mortgage, notes can be helpful to the homebuyer as well as the note originator.

If you don't require it there should be a clause in your lease either way regarding damage to their personal items etc.

Not even $50k....though it should be.The Common Expenses Maintenance Fund section the bylaws it says that every year by a certain date we should distribute an itemized accounting of prior year maintenance spending and the same for the reserves.

That is based on the lease the new tenant agrees to in writing and executed.It sounds like to me a bunch of key items on this property are being left out.

Generally, closing cost items are negotiable and stated in the purchase and sale agreement.Each locality has its' customary division of closing costs.

Apartment housing is not a discretionary item like hotel rooms are.

Given that you are not reporting income, you would have to go the non traditional route to get a loan now.