I’m purchasing a home for myself to restore as primary residence, its a colonial style home built in 93′ the rear balcony is some type of flashing that continues out to the ends as the flooring surface, its some type of thin sheet metal that looks like seam soldered, over time this has obviously broken at the seams and is rotting the below patio ceiling. 

This would be my first attempt to work on a balcony, but it seems obvious to me to just rip it out and build it like i would a shower, im thinking about tiling the finished surface (since that waterproofing method id be familiar with).
My question is have any of you ever seen this type of balcony surface? Its like the same as the flashing material, its mind blowing to me that someone thought a seam soldered sheet metal would work as a balcony walking surface.