They could argue that due to COVID, there was no way to remedy this sooner. 

The downside is there is Mortgage Insurance for the life of the loan but this can be remedied by refinancing to a conventional after you build up 20% equity.Best of Luck!

Right or wrong, you will not be persuaded by anything I post so I will not get into a point-by-point slugfest.Policy and statute in TEXAS is this: the SOLE remedy for non-payment of rent in a residential tenancy is found in the FED statutes. 

One of the main reasons I am saying this is many of them have significant title defects that can be remedied but will also take significant time, effort and cost.For example I was reviewing a performing 2nd mortgage recently but the mortgage did not include the legal description and metes and bounds as required by the county.

When we took it over we discovered the entire building was infested with bedbugs so badly that our bed bug remediation said if this had happened before heat treatment was introduced the building would have probably been torn down.

There have not been any actual plumbing issues to date do to this so my question is would you have it corrected now, possibly changing whole line to PVC or possibly roto rooter the line to by time to save out of rental income to remediate down the road?

I was able to go back to the contractor and get the issues remediated.

Imagine having to move out your tenants (who are angry and shell shocked because all of their personal belongings were destroyed), rip out your flooring and drywall, dry out for a week or two, and put everything back together - All while dealing with a remediation company who has 15 other jobs on the go at the same time as yours, and a GC who also has 15 other jobs on the go at the same time as yours, and dealing with your insurance adjuster (remember, the whole neighborhood got flooded, not just you).

The unit leaked into the suite below but was misdiagnosed by the remediation company as being a problem with my home's pipes.

LBP is the one item that HUD would possibly remediate before putting back on the market