Special assessments and loans do not typically address the real issue when they are implemented and secured. These are usually temporary band aid type fixes to a much larger issue - not adequately funding the reserve account. 

Working with older HOA and Condominium communities carries significant challenges as we are generally working from a position that was created from many years of inadequate budgeting. A community may have gone many years or even decades of underfunding the reserve account only to finally find themselves in a position where the true financial position of the reserve account is apparent.

FHA has made some changes to the approval of condominium communities. There is now a way for approval for communities with as low as 35% owner occupancy. 

New Boards will often bring new ideas and opinions. These can be both beneficial and adverse. It is very important for Boards to take their time in evaluating their decisions for the long term budgeting projections for common area expenses. Seemingly "minor" changes in how things are being treated and paid for (Operating versus Reserve) can have a dramatic impact on the longer term financial position of the community and its members. 

Here are samples of reserve studies for HOA & Condominium Associations as well as for Organizations like churches / worship facilities and museums. These comprehensive reserve study reports are excellent budgeting tools and typically will pay for themselves in a short period of time.