The only downside is there is a Section -8 tenant living there (have not received the disclosures on tenant lease agreement).  

Or you can provide them with a contract, have them review it, and have them update it with the necessary disclosures, contingencies, etc.  

After that youll need these items provided and/or signed by residential tenants:LeasePET addendum (if pets)Smoking Disclosure (3 or more units)Lead in Your Home PamphletPartners in Good Housing KeepingPHILADELPHIA BED BUG ADDENDUM A Guide to Bed Bug SafetyBed Bug Complaint form Rental License

In my opinion, this is not necessarily a deal breaker and you can review all of the HOA documents in the disclosure packets to get an idea of how the HOA is run.While nobody can predict the future, I'm optimistic about the future appreciation in the Bay Area, including Alameda.  

Full disclosure they are an affiliate of mine and I am a minority shareholder.

It includes all kinds of goodies like lead disclosure, child guards, etc.

Last thing for you to consider, as a licensed agent there are certain disclosures you are supposed to provide to the seller to establish and acknowledge that seller is aware you are a licensed agent and understands that for the purposes of that transaction you are NOT working on their behalf nor do you have any fiduciary responsibility to them.

Hey All,Looking to buy our first home however got the disclosures - has old knob and tube wiring, has 110v and needs to be updated 220v, new electrical panel, outlets etc?  

Conquer them and rest will fall into place quite easily, almost as if "by magic".Disclosure: I have no relationship of any kind with Robert Kiyosaki or the Rich Dad organization.

If you don't mind me also providing a potential starting point (contact) for your architect post (looked at your profile), @Mike Garrett, is an architect up that way (full disclosure, I have never used him, just have seen him on BP before and he is in my colleague contact list).