Since you require it as part of your lease, you should move to have that violation remedied.

It sounds like your situation is easy to remedy with vinyl cement patch and waterproofing paint.I am not sure courts would consider water in the basement a habitability issue.

Have the seller sign a new addendum stating that after the remediation you are entitled to a new home inspection. 

I agree this is not like when you own the home you need to do your best to remedy the issue asap but some issues do take a week or more and are not due to the negligence of the property owner or manager.be aware that in oklahoma county there are lawyers that will help the tenant for free and will be more than happy to handle a case like this. 

Just trying to find out the best remedy and that’s what is sounding like the best way to go is unfortunately.

Smokers may hate on me for saying this, but it is only through years of landlord lessons.  3 full evictions, 4 cash for keys and 7 remediated places from smoke damage:Not every smoker I've ever rented to has been a turd, but every single turd I've ever evicted or every single turd I've had to do cash for keys - has been a smoker.   

In my opinion this remediation falls on the HOA if it is coming from a common area item.

Photograph and document and proceed according to your lease remedies.

Make the remediation of the condition by the seller mandatory prior to COE

For example, if you have a 12 unit building and one month after taking over 3 tenants move out because of a flooding or mold issue that needs to be remediated and you have not been able to take care of the building yet, that would justify a decrease in taxable value.