Quote from @Arun Maheshwari: Hi,Does the bank owned foreclosure property allows to put Inspection contingency for big issues like plumbing, eletricity etc.ThanksIf it is bank owned and the foreclosure has taken place - possibly but they would make you responsible to turn on power and water and turn it back off.

As far as Lance Kawaoka's claim that the reason there wasn't much response to a post about checking on the quality of a large, well-known, super-markety sponsor is that members wouldn't want to declare that they are a high net worth individual just doesn't hold water.

I would imagine the best actions would be to immediately fire the management company, pass the keys onto a new one, sue the old one in small claims court for the listed damages.

Indeed, where we pay a REALTOR commission, we are initially under water, but look at the long- term probability the rental will remain in the system.

Often times when a builder/buyer moves too fast, or is too busy and overlooks a key piece of due diligence, the unethical ones will try the "scorched earth" method and blame everyone but themselves, even when they know it was their own mistake, and they'll see if they can scare you, the seller, the title company et al into paying damages/fixing their problem. 

I am confident that the 3 water heaters and 3 HVAC systems I put in place since Summer 2024 will give me some peace of mind in 2025 and beyond... for those properties.

What steps would you recommend to minimize damages and resolve this issue efficiently?

Sounds like an unreasonable seller and the most likely reason for them not wanting an offer with a financing contingency is the property is in too rough shape to get financing on it (structural damage, fire damage, etc.) or won’t appraise anywhere near asking price.   

Over a weekend during which my tenant was not home, the condo became flooded and water went through the flooring and flooded the office below.  

All the water from the crown of the road floods onto my property and I was informed its illegal to discharge water onto anothers property and that the engineers could apply pressure to the city to have curb and gutter installed.