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Ask the REA for a copy of the last few years AGM Strata minutes plus financials as this will likely reveal two things. 1. What repairs need to be carried out on the building. 2. What funds are available to carry out these repairs, if feasible, as WM has illuded to in regards to the dreaded...

Looks interesting with a 7%+ yield and could be worth exploring further imo. However you may be limited to an 80% LVR as lenders would view this property as a "higher risk". Valuation could also be an issue as it may be difficult to get comparable properties. Would also need to check if it...