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Condo Operating Deficit

I'm trying to gauge if the condo's financials are a deal breaker.

I'm in the process of doing my due diligences on an nyc condo. As I'm reviewing the financials I see that they were operating loss of 200k for 2022. Their income was 800k but incurred 1M in expenses. The two drivers are 90k in bad debt and roughly 100k extra in repairs compared 2021 and 2020. The last time they increased the monthly maintenance was 2019 by 200 a month. The two years prior to this they were operating at a small loss (1k-10k). They haven't closed the books on 2023 but they're budgeting an income of 80k for 2024.

submitted by /u/DareSignal5994
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source https://www.reddit.com/r/RealEstate/comments/1c4fock/condo_operating_deficit/
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