Failed (Failing) institutions are a thing of the past for the most part and any bank failing, would more than likely be acquired by the FDIC and sold to another bank under a loss share agreement with the acquiring bank.Your first "reason" contradicts your statement.

That is, have you signed a buyer's representation agreement?

If not, I would talk to an attorney about writing up an indemnification agreement you can sign for the seller. 

It would be interesting to see what your management agreement has in it.

I use my State of Georgia Real Estate Purchase and Sale of Real Estate Agreement.  

I'm sure the PM company I do land with will have me sign a non-compete agreement.

That is a change of the rental agreement.

I'm in full agreement with @Ann Bellamythat as a landlord you need to know landlord/tenant law inside and out.

Instead the landlord may proceed immediately to end the agreement or make the repair and bill the tenant.I've hired contractors and made the repair.

Here is a link to a 1 page purchase agreement that you can also do "assignments" from as well.