co- op purchase

Thinking of buying a co op for a very reasonable price. Low maintenance $245 . Its an all cash purchase . The building has no mortgage,but it also has no reserve fund. I’m told its a very old co op (finish co op) It seems that the board is in a state of flux at the moment, Just a treasurer dealing with the maintenance etc. Has anbody dealt with this kind of situation? Any wisdom would be welcome.

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