Every year you have a re-inspection and inspectors can nitpick 2 fails in a row, which could be because your tenant wasn't there to let them in and they with hold your rent until resolved. 

I guess I want to house hack a duplex, somewhere in the 100-200 k range, a range where I know that if I fail at everything I can still afford the mortgage payment.

I may be confused, but I fail to understand what the appraisal would have to do with the comps. 

However, you may have some responsibility if you fail to evict after a nuisance becomes known. 

There is so much that people don't tell you about wholesaling and I believe that is why so many people fail.

Has anyone bought preconstruction before, had success, or failed that could put some perspective on this?

If they fail to fit your requirements, you will move on to someone else who can meet your expectations.As long as there is mutual communication, your friendship should be preserved.

Concern here is: if they fail to pay the HOA dues, fines, etc. will the HOA foreclose on my house or merely put a lien on it?

I fail to see how there is any strategy behind this realtor’s listing....

Want it more than anything and you will succeed if you fall you get up learn from it do it again.. fail better fail forward one time I lost an apartment building the very next deal made about a180k glad I didn't stop....