A lot of people aren't as comfortable waiving inspections.

If you aren't comfortable with CA's high prices, learn more about out of state investing.

If the investor you spoke of had done so, not only would they have been aware of the underlying debt, they also could have requested the seller give the current lender authorization to share information with the investor. 

Instead of getting classified for the entire property, they went down to the local housing authority and talked to the manager about their units and left handouts about their properties that was marketed around helping section 8 elderly folks.

“They” aren’t as concerned about the profit, any income is a bonus and the tax write offs are an extra bonus (a bonus bonus if you want to call it that.). 

Here, title holder cannot waive, as the appropriate regulation is directed at the taxing authority, not the title holder.

You haven't setup the comparison right and really aren't taking into account the power of leverage.

Their lease does not allow smoking inside (I'll add a clause about smoking outside next time), so technically they aren't in breach of the lease, although I get an uneasy feeling knowing he is a smoker and the fact he lied on his application. 

People aren't alway who they same, even when we think we know them. 

Now obviously the supply houses and manufacturers knew this was coming for a couple years and stopped stocking in advance, but that doesn't mean that some of these older fittings aren't still around.