However, I do expect the property manager to have a running list of any defects/issues with the units. 

@Ralph Ace  When I was practicing in Mass and Maine, the guidance was that the report was the property of the person who paid for it - normally the buyer.Other parties could ask for it, but it would be standard practice to ask them to pay for it.That said, the seller would be required to disclose any defects that were uncovered in the inspection.

Yes defects become identitified, but many can fix lol.

If that's not convincing enough, then remember that the best way to avoid liability (lawsuits) is to disclose, disclose, disclose - and do it in writing so you have a paper trail if a defect comes up later.

I have not done townhouses just because of construction defect insurance issues. 

One of the main reasons I am saying this is many of them have significant title defects that can be remedied but will also take significant time, effort and cost.For example I was reviewing a performing 2nd mortgage recently but the mortgage did not include the legal description and metes and bounds as required by the county.

We don’t do a thorough inspection, but he will bring a wire tester to check the wiring to see if it’s grounded and he looks for defects I might miss.

Remember once a defect is discovered in most states it has to be disclosed to future buyers.

Defects-Deferred maintance (roof leaks, windows rotting out, mechanicals not workings) must be considered. 

In 35 years of practicing in the litigation field including construction defects, insurance coverage, and civil litigation, I've seen some pretty surprising scenarios.