your best chances are garnishment if the tenant has a long term job at a reputable company or at a government entity.  

The pros far outweigh the cons, which include:Safer living & health conditions for tenantsA peace of mind for you as owner & for tenantsWhich can then in turn directly or indirectly, depending on your perspective & outcome, reduce vacany rates Don't forget the other pros;Lead contractors will make a fortuneMore regulation is always betterThe government knows bestThe list you provided above is fluff.  

It is not wise to learn the regulations governing the business you are about to start after you buy the business. 

I have been consulting people and governments for years on financial matters and legislation.

I'm going to assume that the developer legally established an HOA and recorded articles of incorporation, governing documents (CC&Rs) etc.

Too much big government/regulation for me, not business owner friendly. 

In my area you dont have to be a GC to buold your personal home.Find a local bank to work with on construction loan (I would suggest you get a account for that bank and donuts always help) Get a list of your area governing body on what is needed to be submitted for approval.

What's different are the LLC governing docs and how it's structured.

We got the payment history back today, and sure enough last payment was June 2012, so they have not paid off the loan and when we go to foreclosure we have the payment history and we are confident we can get the foreclosure finished, and wipe out the Federal and State tax liens.Then we plan on doing a high end rehab, and put it back on the market. 

The right to lien a property is usually governed by State Statute.