Yes it is a whole different language and set of metrics than any other asset class.

@Christopher FreemanI like the language but it’s probably not enforceable.  

@Tyler Jahnke for almost single-handedly exposing what may be one of the biggest scams in the industry today with his "MI case study 2.0" thread, which prevented others from being scammed.

Would it make sense to put more time and energy into studying/investing in other markets where the initial investments weren’t so costly?

If you study what caused the market crash in 2008 and compare it to what is going on now, there's similarities, but also differences.

Your maintenance/capex budget will be driven by what you see in the resale cert (review financials, budgets, reserve study, read meeting minutes) to see how well the association is functioning.

I design and PM for a general contractor and want to develop and study the numbers as much as possible.

Body Language is 77% of communication.

Keep in mind that you can always get exposure to foreign real estate as an asset class, via REITs or other passive instruments, without dealing directly with language barriers, time zones, logistical issues (14+ hour flight), etc. 

Besides Option #1, all of the others involve financial risk on your part.My recommendation is to contact a good certified general real estate appraiser and request a feasibility study.