You are letting the house “breathe” and letting the “moisture” out.

@Daniel Lozowy In terms of the roof I look at whether or not there are visible ridges from the wood under the shingles as this can sometimes mean there's a moisture problem or is simply structurally old, which increases risk of a roof looking.

Well, kinda late for it, but I'd take a look inside while you can work on it since moisture invasion should be repaired as soon as possible.In general, foreclosures are pretty much "as-is where-is" so read your sales agreement to see if you have any recourse.Don't know about TX, but in OR when you buy foreclosure, you get a Special Warranty Deed.  

If you can afford the mini splits and can live with the single-point source (i.e. to heat/cool the place all the doors need to be open), much better:1) Your tenant gets about 50% off his electric in winter2) Your tenant gets A/C and you get dehumidifier which keeps moisture down3) Baseboards are notoriously inefficient and usually get a sofa shoved in front of them4) If electric and not regularly cleaned, I think they're a fire hazard.

In general - Unless you know the property has only skin-deep stuff you can fix FOR SURE - I'd hire an inspector to look for stuff like foundation issues, moisture invasion, everything is to code, major mechanical stuff, life on expensive stuff like HVAC/roofs.MHs a little easier though, but don't know the level of rehab you want to do.

Also if you have a guy that knows, look for edges like joints and chimneys for potential for moisture invasion6) Crawl space and moisture and barriers.  

The main thing with any kind of pavement treatment is to keep surface moisture from the soil beneath.If the paving is in good shape (i.e. no alligatoring or potholes) and looks like it's graded OK (no standing water after heavy rain), a seal coat can add life to the property.   

Plan for replacements3) Look at major structures, your biggest issue is moisture invasion. 

If it was the flashing, most likely it would have resulted in ceiling penetration on the top floor unit.

next time you damage your wall board seal it with guardz primer...like a coat of clear penetrating glue.