That'll give you a quantitative picture. For a qualitative picture, do a bit of door knocking. Talk to 4-6 residents at the condo. Ask how it's going. Ask how management is. Ask what problems there are.
Those two steps--looking at the books and then talking to some owners--will give you a good picture.
Then review the current financials. Again, these can be obtained from the property manager, an owner or board member. Check the balance sheet and the accounts receivable due report. If more than 10% of the unit owners are 60 days or more past due, that's a big red flag. That shows owner resistence to paying the dues, which is a tell tale sign that they may be having a problem making their mortgage payment. The new judicial foreclosure process can take months, or even a year to complete, while the association is only protected for six months of dues. This time lag compounds the problem of lost revenue to the association.
Then review all the minutes from both the owners meetings and board meetings from the past two years. Review discussion regarding collection of past due accounts, future major maintenance issues, and pending or current lawsuits. Take a walk around the property and look for signs of deferred maintenance. Is the paint peeling? Is the landscaping well maintained? How does the roof look?
Interviewing the property manager, homeowners, board members and realtors can be helpful as well. However, be wary of homeowner, tenant, and property employee gossip. Sometimes they don't have the full picture, or have been biased for some reason.
Realistically, you can't find out details about their finances until you engage at the transaction level.
All the best,