If you're concerned about leaking and subsequent mold issues from a leaky roof, I'd highly recommend you get someone to inspect it.

Also note that overlays exist, to wit note that the Fannie Mae forms don't even include anything about a two year average, and specifically mention only "12 months" AND "borrower's most recent year [not yearS] of federal income tax returns" AND there is even a section for "property acquired during or subsequent to the most recent fax filing year," meaning Fannie Mae will actually go for counting rent BEFORE it's even on tax returns!

In subsequent years, only new assets or depreciable improvements to existing assets are reported on a new Form 4562After you finish Form 8825, follow the directions on line 21 to transfer your net rental income (loss) to Form 1065.  

I’m excited to learn more on each subsequent one!

With this question unanswered, why are investors (and I've see a lot of the same ones purchasing Condos in this situation on multiple occasions, so I have to assume they are professionals) purchasing these Condos when they know they can't get clear title, and could subsequently be joined as a party to the 1st Trust Lender's foreclosure on the property?

Typically they require an initial deposit and then subsequent payments along the way, and most construction loans only disburse when the items are on-site/installed.

I would leverage this learning on subsequent acquisitions. 

For subsequent deals, I would already be established.

Yeah Jerry here a tax lien holder has to pay all subsequent taxes and eventually foreclose if he/she wants to protect their position.

We had a young tenant caught working while on WC & he subsequently lost his comp check (but he kept working off the books).He was quickly evicted by our PM for arrears.