I think you have a good plan....prevent any further damage from possible flooding by addressing the issue with the plumber.

Yes, you'll lose a little upfront...but it will hopefully prevent you from losing a lot.

Send out a notice of cure or quit and do something to prevent it from happening again.

We have spent money on a storage unit, cockroaches preventatives, laundry ( everything has to be washed at the laundry mat).Why would you do??

This is there so called way to prevent slum lording which makes no sense.

Bedroom is remodeled except for the floor has been ripped up and yet again just the plywood looking sub-floor remains.Basement has foundation cracks but I hired a professional structural engineer and the report says the house is not in any foundational trouble but gave suggestions to install carbon fiber strips as a preventive measure for the long term health of the building.I have about a week or so to get into the property and get the unit up to a FHA appraiser's standards.

It prevents anyone from coming against everything you own in one swing.And, it keeps your name off of public record which is important so that no one sees how much you own.Asset protection is vital if you plan to own much and/or to create wealth.

I understand that for a condo, the HOA may have the right to buy or lease it first, but would they go to that length to prevent a less-than-10%-down buyer? 

I only give them a short time (about 5 days) to meet for the lease signing before they lose their exclusive rights to the unit, so this prevents someone from dragging their feet after they've signed the contract to hold.Once the lease is signed, I take down the ads and send out emails to people in mid-marketing flow letting them know that the apartment has been rented but I will reach out if something falls through.

I'm talking about everything from flashing a new window installation correctly to prevent future water damage to making sure all finish work is properly aligned and looking clean.