Thanks for the reply Derek…
It's a pretty old building, only 2 storeys high with no underground parking.

So I guess my solicitor should dig out the strata report and any minutes to look for any known serious problems that may indicate pending work on the building.

I realise the decision is mine, but I really wanted to know what the general consensus was out there from those that purchase units?

I agree – definitely lots of good info from Terry. Thanks for the lengthy response, I really appreciate the time you've take to do so.

I think I'll have to start doing some heavy reading of my own on this, following Warren Buffet's ideology of never investing in something that wasn't understood. To be fair, we (my accountant and I) covered a lot over a 90 min session and it was only afterwards that I had a million and one questions, and I could have easily misheard a few points. And the accountancy firm is well-known for specialising in property. It's quite a complex topic.

Perhaps a better question would be, does anyone know of any books on the subject that are easy and clear? That way I'd be better armed when I see the accountant next time!