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This sounds like a unit block that has been in private hands for 30 something years and has recently been strata titled and sold off without the necessary maintenance being done. The vendor is attempting to shift poor/no maintenance being done for 30+ years onto 6 suckers........ahem, I mean...

Yes, that's a strata issue (of which you would be 1/6 roughly, the owner of the problem).

This unit is not in Glebe down near the water is it? If it is the one I'm thinking of, that one of our clients was considering buying, run away and do not look back! To answer your question, they only have to disclose if someone asks. That'd be the best option possibly.

$50K cost shared between how many units in the SP? Bad idea IF there are only say 10 units in the complex. This is only $5K ea - and if you take that into account with your offer price, I don't see a problem.