The big "rule # 1" is to not pay them all in advance.  

The insurance company wants to understand the limit of their liability and those documents spell out what the HOA says they will pay for and what they will not.  

I dont know much about this stuff .. but now that i am in vegas I will ask around.. however dont you have to go through some pretty serious back ground checks and such to get a licesne.. or is this just the first step get the place in escrow subject to the state of NV approving you.. ??? 

I am also a real estate agent now who will be able to buy and list my own properties..I would like to BRRRR if it makes sense on the refi to pay off the LOC, or sell for a quick turn around.Thoughts/suggestions?

You are on weak ground.

Definitely not an exhaustive list, but those are trades that I'll waste tons of time on and likely do subpar work when I can pay a pro who will do it in 10% of the time and the labor costs are pretty reasonable. 

At first I assummed the late rent would get resolved and they would be in better shape to pay on time, unforuntatly, its been 8 months of the same late rent. 

I'm curious with already-in-place commercial tenants, besides checking that they are paying on time, is there any other due diligence you do on the tenants before purchase?

I don't have large money to pay off the that lien.

Of course you need a solid agent on the ground.