A question for the city dweallers

[Juan Carlos Castillo]

So I am living in an old condo 60+ years, SFL, amazing walk score, hospital grid, near a university/downtown absolute heaven of a propety. I'm sure everyone here has heard of the horrible tragedy of ther Champaign towers in Miami. My question goes out to all the people who have played condos/apartments in big cities, old buildings. Have you been heavily involved in the HOA/inspecting the properties? HAVE ANY OF THEM BEEN DEEMED UNSAFE OR COLLAPSED? Do you carefully inspect insurance coverage to match?

I have found that my building is riddled with problems, but am an engineer and thinking they are manageble, I want to come up with a gameplan to possibly buy a majority of the units seeing as they are cashflowing x2/3 times my projections, just absolutely crushing it. 

But how do you account for the increased risk in dated buildings?