For example, if they presumably want to make improvements to their new investment, improving common areas, etc., can they / are they likely to force through a special assessment that will apply to all owners, through the HOA board that I'm sure they'll control?

Written inventory of all furnishings and other personal property in, on, or commonly in use for the normal operation and maintenance of the subject property.

Be aware that some of the common overlapping expenses cannot be deducted.

@Ben Joseph the proper policy is you need is a Non Owner Occupied Rental Dwelling policy, commonly know as a Landlord policy.You are correct in a Rental Dwelling policy will usually have Liability as part of the policy.

They are 4 bedroom, 4 bath, and they share the common spaces.

The title company has a form that the buyer's fill out saying how they want to take title such as as an unmarried person, as joint tenants, as a married person as separate property, as tenants in common. 

Increased vacancy and expenses (common for properties I buy) would certainly impact the property value.Unfortunately, I've found that sometimes I've overpaid for a property because I overlooked some serious maintenance/capex/tenant issues, and I haven't been able to correct them in the year purchased.

This is a pretty common issue, you'd think they'd be well-versed on it.

The survey is fairly common and is usually required by either conventional or FHA.

If you don’t mind sharing your common spaces, this can be a very effective way to go.