If you do most things right, most issues are mitigated and it's not too bad, but there's no guarantees.

Agreed - plus two additional thoughts:1) I always recommend having your CPA also review the drafted operating agreement for the tax issues. 

Additionally you can always write in what was done to correct it and explain that since then you no longer had issues. 

A national buyer would review the BPO and maybe do some brief online research, but would not typically not know, as in your example, about the sewage issues or extent of interior rehab needed.

But all interpret their own states foreclosure laws.

If you want to talk condo law in Hawaii, I can tell you the aftermath of the Lahaina fire makes me hesitant to have an HOA ever again, but we will save that for the blog!

But occasionally we have issues and tenants need to be asked to leave or just decide to disappear in the middle of winter and it sucks.The worst part is I find the quality of tenant interested or willing to move this time of year isn't the greatest either - often times there is a reason they have to move right now since most landlords don't like ending leases this time of year.Either lower your rent or just hang in there.

I can only think of 2 times inn the last decade my client has had to go though an eviction and both times it started cause the owner and tenant had personal issues. 

I am particularly interested in:Understanding the fundamentals of wholesalingNavigating Texas-specific real estate laws and regulationsBuilding a strong network of cash buyers and motivated sellersLearning effective marketing strategiesAnalyzing and evaluating dealsIf anyone is willing to share their experiences, tips, or resources, I would greatly appreciate it.

If HOA by laws state past due owners are responsible for all late fees and legal expenses for collection hire an attorney to go after the past due.