If not, move on.Bullet points because on mobile and formatting failed.

I am not worried about failing and set backs I just need to understand how to get starting and maybe even how to write and offer up.

Plumbing and the roof is suspect, but the foundation seems OK based on what I've heard.I guess I feel like I need the rental income as my business failed recently and I have no income coming in.

If you fail to perform to the contract, the seller gets to keep your EM. 

The drain field failed inspection so they added a second drain field.

The drain field failed inspection so they added a second drain field.

These low-value condos can be tough to sell and the reason these deals get broken like this is because the developer tries a sales strategy and fails, opting to just keep the rest. 

However, with a failing, nearly bankrupt HOA I would RUN, do not walk away but RUN AWAY from this.

(That has never been an issue for me but that is something you want if you are going to spend the money on the report - the engineer is responsible if the repairs fail per their recommendation, not you)  

What are the bare minimum requirements I should request in a written agreement/legal document with this individual to best protect my asset in case his investment fails or falls short.