Asking the board to break out the costs between depreciable assets versus actual maintenance and repair expenses would be beneficial for full disclosure. You can refer to this link which breaks out which items would be considered capital improvements that would need to be depreciated. Any costs for routine maintenance and minor repairs can be expensed as incurred.
As far as the credits being provided by the seller to the buyer, that would be something that would need to be discussed with your realtor and lender to ensure you are in compliance with the real estate rules. Please see terminology tips in this link for more details on how your gain would be calculated.
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