If we purchase in the fall, we may only be able to get 1 or 2 weeks rented.

They want you to fall in love with the place and visualize yourself there, so that by the time you get hit with the final price you have FOMO if you back out. 

I haven't experienced an exit yet so have always wondered if they'll actually reach the projected IRRs or if in general they fall short.

I'm filing a complaint with the NC Real Estate Commission, but I'm also spreading the word as far and wide as possible, to prevent other unsuspecting landlords from falling pray to her unethical, unprofessional business practices.

I am not here to pick on you, I am here to protect BP members from falling for these misleading traps. 

Regarding your questions:1) Typically, the landlord's insurance should cover the cost of the tenant's hotel stay during repairs, as it's considered a loss resulting from the property's condition.2) If the pipes were shared with other units, responsibility might fall on the HOA to address the issue.

Most likely the state where the property is located is where lawsuits would be brought if they are something for personal injury like a trip and fall or something of that nature because the “cause of action” arose in that state.

Now ABC will turn around and sell your property to another victim for a profit.

AND you must maintain adequate reserves to take care of the disasters that may happen.Most of my clients fall into the first group above. 

Called out the ground around the house for not falling 6 inches in 10 feet.