Simple answer: NO It can be installed as such, and even look rather nice, the day you install it. However, if it did endure a little wind, extreme temperatures and moisture would vividly provide you with the experience for your next years rebuild project, if not prior. If you are going for the aesthetics of the shiplap finish, you might consider a moisture resistant backing, or a nailing schedule no more that 24" oc, preferably 16"oc. And most importantly, your support posts should be adequate. Even the best sails will fail with a weak mast.
very little, the finis side is very good, ends need to be trimmed and sanded though, normal stuff
No. you need gap between two boards to drain rain water
Yes we have used it on dormers and wing walls
Installing a wood product over concrete, I would use batons, fastened with anchor bolts. Then fasten the finish material to the secured batons with a less conspicuous finish nail. However, in a situation of a concrete ceiling, especially of a condo. I would consult an inspector or engineer to assure the drilling or even the installation of any fastener would not jeopardize the integrity of the structure. With a properly prepared surface, there are adhesives that would provide an adequate bond. I would question the feasibility, determining the cure period. Any effort would not be a waste of time. Because some are meant to serve as a very valuable experience.
Yes, will look great, make sure you seal or stain before installation, saw horses work great as a work bench for stain/sealing Seal both sides, with 2 coats on finish side, some say the back sides don't need to be sealed, I did it anyway as I have an outside porch ceiling application
Although these boards are called 1x6, their actual dimensions are 11/16" thick, and 5 3/8" wide. However, if you are talking about actual coverage, when the Tongue is inserted into the Groove, there is only a 5" exposed width. Therefore, a single 1in. x 6 in. x 8 ft board, being 5" x 96", is 480 sq. in. The 6-Pack ( or One Bundle) of boards will cover 2,880 sq. in. or 20 Square feet. Be sure to allow for waste, especially if your nailing supports are other than a standard given span (16" oc, 24" oc, etc.) NOTE: I realize the OP is 2 years old, but I hope this helps someone today.
Measure the Length and Times it by Width
Net thickness is around 11/16"