I think if an agent didn't warn the client, it would be a bit negligent.  

For that reason alone, the Association should carry liability for the "common areas" which are the streets, sidewalks, greenbelts, etc. and D&O because you can still be sued by a homeowner for a decision whether it's negligent or not and fidelity (just in case one of your upstanding board members is pocketing association money when no one is looking).

It's very likely that this $7,000 worth of debt is due to negligence on their part but it doesn't matter because the association is responsible for the debt and the developer would be responsible for some of it since they own three of the ten units.

Propane heat is a deal killer up here esp with negligible insulation.

A title search turned up only one $700 secondary lien from a utility bill, which is negligible compared to the value of the property.Thank you for your advice.

We've been putting properties in LLCs for decades and the number of loans called due is negligible.

—The landlord is not responsible to the tenant under this section for conditions created or caused by the negligent or wrongful act or omission of the tenant, a member of the tenant’s family, or other person on the premises with the tenant’s consent.

If a tenant owns the hazard the homeowner/landlord is still ultimately responsible but he may subrogate against the tenants personal liability coverage of their renters policy as long as the owner can prove he didn't have any negligence in the loss and the tenant has renters insurance. 

So whatever increases occur, are probably negligible and can be easily adapted to.

Paying cash steals cash flow from the property and in real terms is only saving the prevailing mortgage rate which today is negligible.