Yes, we've spoken with the clerk at the town, who confirmed that there are no permits on file for this house, apparently because a fire in 1959 destroyed many town records.

Any increase in HOA or other special assessments could destroy that.Keep in mind, cash flow is NOT rent - mortgage - HOA. 

I am talking weather that destroyed homes and even people's lives.

What if the dwelling is harming the land, disrupting it in any way, or being destroyed in any way?

I understand that networking and relationships are very important in this business and do not wish to destroy my reputation before it even exists.Thank you in advance and I look forward to your replies,Nick

I would take pictures (do not destroy the area or expose to much).Call at least 2 other reputable inspectors in (that are licensed and "fully insured")to do an evaluation and provide you estimates for treatment if need be and a brief summary on any damage found.I had a similar problem on a property i was going to flip and one of the other inspectors i hired to check out the missed termite damage issues i found told me they had previously inspected the home and told the then homeowners all the issues but the homeowners (sellers to me) had a cheap company do a half arss job.

Such spending brings risk of being destroyed by tenants or never getting the value out at sale. 

Tenants will destroy doors and wood work. 

Same if they fail to report a water leak under the sink and it destroys the vanity... 

The report says: visible evidence of a wood destroying a termite insect infestation was noted as follows.