I am being told I can have power turned on for the day for a full inspection(done before offer is submitted) but they won't turn on water when there has been a basic failed inspection in case there is a huge leak/water intrusion problem. 

I was wondering about water as the plumbing inspection failed (this is a HUD property) but really did not see any evidence of water damage/intrusion at all and I walked thru this with another agent and we looked very closely. 

Here's why:(1) You get to be a homeowner, with all the privileges and responsibilities that entails, and you get to learn about homeownership and maintenance without having to worry about pleasing (or not) and dealing with tenants.(2) Getting qualified for a loan as an owner/occupier is much easier and requires less down payment than buying investment property, and, as long and you follow the IRS guidelines, any profit you make when you sell may be tax free.(3) You have the option of buying a home that needs some work (generally cheaper, but also in high demand in this market) and putting in some sweat equity while you live there and/or getting roommates who pay YOU the rent (which is kind of like having tenants, only a little more intrusive).I wouldn't recommend investing in another city (like San Antonio) unless or until you know the other city pretty well, you don't mind traveling there on a regular basis, and you have a bit of your own homeownwrship experience under your belt.I'd be happy to discuss further anytime.

- Had serious water intrusion into a building during historic downpours, and displaced tenants that we had to pay some hotel money for :-/+ My first insurance claim

Not only will this tell you if you have sewer or septic, but it will also tell you if you have any cracks in the line from root intrusion, etc.

For those of you who took my post with a grain of salt and actually read through everything, I'm all ears for questions and experience sharing as long as it isn't intrusive.

We are managed by a condo management group.There has been water intrusion going into my unit for quite some time it appears..

Likely cause is a broken seal which could have been sealed to stop moisture intrusion to this extent and avoided window replacement.

The house doesn't smell musty or have any other obvious signs of mold or water intrusion.

Years ago when we all "worked for the seller" as sub agents we were permitted to dig deep and ask some pretty intrusive questions about the buyers' financial qualifications.