I would only recommend waiving inspection if all or most of the following is true:1) The price is right and the deal is good enough that even if the building has major mechanical/structural/physical obsolescence issues it's still a good deal (and you have the money available to make the necessary repairs)2) You're planning a major rehab anyway, specialize in this type of property, have a lot of experience and have padding in your rehab budget for unexpected issues3) You have deep pockets, just really want the property and can afford to take a big hit4) You already know the property and it's potential issues because you live down the block, know the property well, know and trust the owner/manager/tenants, used to live there, worked on the property as a tradesperson, have solid inside knowledge etc. and have money to make the unexpected necessary repairs5) You like rolling the dice and have money to make the unexpected necessary repairs6) You're a savant in all the trades and can see through walls and dirt as well as predict the future and have money to make the unexpected necessary repairs7) you have money to make the unexpected necessary repairs

Poured or block foundation, no major cracks or visible settling.2. 2 bedrooms, 1 bath, +/- 1000 ft2, single soil stack construction.3.

They  still close to action, but that one block in it has all home owners, they take care of their homes, and they pay attention what it going on, and their neighbors etc...How would you know?

Once the city was making some repairs on the main water line down the block and had the water shut off. 

If you're looking at Indianapolis, look for the blog on "Grading Indianapolis Neighborhoods" as it has a color coded map that may help.The "war zones" that I am hesitant of right now are:Anywhere on N Sherman Dr and 3-4 blocks east and west...

Also, I started a refinance a few years back when rates got really low and was told that because my divorce docs awarding me the house did not have the full and complete block address that my ex still had a claim to the property and would have to come to signing (amicable divorce so he was willing to do that).

Those midwest cities can have drastic changes from block to block. 

thanksAlex You seem to have this odd mental block that you & the Property Manager are working against one another or that the Property Manager is looking at your portfolio & trying to figure out ways to trick you out of $30 her or there, lol.

Issues like this typically require extensive shoring then installing Piles because soil erosion will undermine all cement and block walls.   

This is a wood-fired fireplace and I was thinking along the same lines with the decorative brickwork or temporary design to block off the front portion.