Water Intrusion Problem

dreamz

I wasnt sure what section to put this in. You cant move it if it goes somewhere else.

I have a little problem with water running inside my building from the balconies. The exterior of the building is stucco and around the concrete balconies is 1/2" plywood and then foam and stucco. When I got this building some moron had already tiled the balconies before anything had been sealed. It seems that water is running between the layers of plywood going up under the balconies and back into the building. As it accumulates between floors the back wall is looking like a waterfall.

I came up with an idea to pull the tile and use rubber roofing membrane around the edges and make like a flashing so the water would roll off. My roofer tells me that there is another material we can just paint on that would make this totally water tight and is not visible from the ground.

Does anyone know about this?