Condos can be steady, but more and more, their insurance is going up along with assessments depending on the age of the development build.

Here are some diagrams to help you in your quest for answers on this subject:Asset Protection Decision Diagram - to help assess the need for asset protection, and what to implement : https://www.biggerpockets.com/files/user/CosIorg/file/asset-protection-decision-diagramAsset Protection Onion Diagram - what, when and at what cost one should implement in terms of asset protection - https://www.biggerpockets.com/files/user/CosIorg/file/asset-protection-onion-diagram-v2What is needed for a complete asset protection OR the domains that need to be intersected to find asset protection

I would prefer a turn-key property but willing to assess lower risk "fixer uppers" with potential. 

What inquiries should I make to assess whether this represents a favorable investment opportunity?

They can help you assess any risks associated with early occupancy and possibly draft a lease that reflects the situation appropriately—though that still doesn’t eliminate the underlying legal issue of occupancy without a CO.Note: This information is for educational and informational purposes only and does not constitute legal, tax, financial, or investment advice.

If you're unable to tap into NYSERDA directly, check with your utility company or look into PACE financing (Property Assessed Clean Energy), which lets you pay for improvements through a property tax assessment, with no upfront costs.

There are tasks that require human intervention, such as assessing the condition of the property to determine cost to renovate of CAPEX, choosing which properties to include in a comparative market or rental analysis....  

DSCR (Debt Service Coverage Ratio) loans are commonly used for these, especially if you're looking to qualify based on the income of the property rather than personal income.Here’s what to focus on:DSCR loans assess whether the property’s rental income covers the debt service.

But we didn't have confidence in our cleaners being able to adequately assess the highchairs for damage between turns.

Combining deep document review with physical and regulatory due diligence will help you avoid unpleasant surprises and assess whether the building supports your investment goals.Note: This information is for educational and informational purposes only and does not constitute legal, tax, financial, or investment advice.