If the association is responsible for the roof, boiler, landscaping, etc., it doesn't take a math genius to realize that $40/unit isn't going to cover it.  

Roof needs to be replaced.  

New roof, windows, siding, HVAC, insulation, etc. 

One foundation, one roof, but multiple rentals. 

Have someone that knows what they are doing look at the foundation, roof (down to the sheathing), electrical and plumbing.

A MLS listing $69k 4 bed 2 bath came on the market.It is a 1 story recently converted to a 2 story new siding, windows, roof, AC, in 2012 when it was converted. 

When the home inspection was done, there were big ticket items that needed work: needs new HVAC, new roof, excavate eroded and leaking sewer made of cast iron, install new sump pump.  

@Ali Boone Have you heard about Roof Stock.com?

I am looking for a trusted Industrial roofing expert in Toronto.

I have the opportunity to purchase this investment property:3bd/1ba/2 car attached garage.ARV: 85k (verified with recent sold comps)Reparis: 14k (already has new roof, siding, windows. just needs interrior brought up to snuff)Asking price: 44K cashThey are open to owner finance for 6-12 months with 20% downRents $900It's a local deal in good school district with a strong rental market.I would like to buy & hold this one, but I think it could also be a flip.