Note with the new tax law for this year you can immediately expense anything over 2500 as well.

As a going concern I believe those assessments would be interited under California law.

Liens may have been wiped out in the foreclosure depending on the laws of your state, or there may be a limit to how much the HOA can charge after a foreclosure. 

I second @James Carlson has great info on investing, the laws leave it wide open for Airbnb. 

Dan Stewart I don’t know Michigan law or common practices but out here the buyer does a “final walkthrough” often the day or a few days before closing.

But California law limits the reasons for landlord entry. 

Some interpret local laws differently than others and an investor friendly attorney may be more likely to give you the specific route to take rather than just  a general idea. 

You should live by the letter of your lease and local landlord laws, but there is some room to remember that your tenants are your customers. how much of that room you wish to exercise is your decision though.

I grew up living in a "house hacking" family, meaning we would move house to house rehabbing and living in the construction zone, and last year I worked with my brother in law on a few rehab/flip projects he has.

So it would mainly be buying for appreciation at least until someone changes the rental laws.