I’d ask about the cost of getting the well water lots converted to city water.

They also watered down Strict for those who kept it, extending the 50% refund window to 7 days out (previously it was 14).

Interest rates are almost always quoted in 1/8th increments. 5.34 sounds like an APR, which can muddy the water a bit. 

The unit is fully renovated, featuring brand-new appliances, including a new water heater.I want to know if these types of figures for a small condo unit are normal or I should walk away.

But if no water, then no sale.  

What really muddies the waters is that so many syndicated offerings are sponsored by people inexperienced, lacking specific knowledge, and lacking the various talent needed to give an investment the best chance of success.  

Around 14 lots are on well water, and 4 are on community water.

This includes operating your heating and air-conditioning system as appropriate to reduce humidity, using appropriate ventilation, limiting evaporation of water, promptly removing any visible mold, and immediately reporting to us any leaks or other water intrusion into your apartment or any visible mold that you cannot remove.

.), and what the infrastructure looks like (sewer, water, electric) because those systems can make or break the deal long term.

Everything is new: plumbing, electrical, roof, HVAC, water heater, etc.