I note that you seem to live in New Jersey. By all means check with the appropriate folks mentioned, your lawyer, the association board or the management company. Your state regulations may differ from ours in Conn.
I think I would also try and find buyers for the 2 units in foreclosure. Once these are bank owned, their sale prices may depress you values for years to come!
Yes, check what the condominium by-laws state as well as your Board of Directors (if you have a Board). You may also wish to contact the property management company about it and voice your concerns.
Good luck to you!
Prudential Connecticut Realty