I used my property inspection findings to negotiate the price down, and I expected to do that because I wanted to buy a house that needed updates so I could add value.

You still need to do a proper move out inspection, but a pre-inspection means you can make sure the place is good to show and make a list of what you need to do.3.

I just got a permit pulled for HVAC by a contractor and got a letter in the mail about scheduling the inspection and how they are doing it due to Covid.

At this point there will be marketing costs, EMD in some cases, maybe inspections and contractor fees, etc.. so hypothetically, if we decide that it should be held as a long term entity at the end, we have ran all of these costs through our short term entity.

You'll want a Wind Mitigation inspection to see if you can get any discounts -- they can add up quickly. 

And inspected.

I did waives on mold inspections but I have a quote and facts of mold present.My though / goal would be to get the price dropped so I can pay less out pocket down payment.

Identify actions (if any) I should be taking on this current property between now, the inspection and closing to minimize my risk exposureThanks in advance!

(Of course in the current market, there would be more interest than there would be 2 years ago on a poor listing, however, it would still not have the hot market bidding wars, inspections waived, etc.)Hope this is helpful, feel free to reach out to me if I can be of any help.

For the most part if your contingencies are in place for an offer, and you've got the proper timing in place (response to offer, response to inspection, etc.), you should be good.