My real estate friend said he remembers there being a law in AZ that states HOAs must have a termite bond on all shared/common areas.

This kills the sale price, as you have already noticed a 50k drop. 

The 70% that they typically refer to is a very common LTV % of the ARV for Hard Money lenders.ARV x 70% = max loanmax loan - repairs - closing costs (hard money origination fees, title fees, state fees) = MAOHopefully that helps, but like I said the closings costs vary by lender.

My agent just noticed me that the deal will be cancelled because the title company has found out that the seller has a big lean which is more than the money he would receive if this deal closed; therefore, I won't let this deal continue.

If I were in your shoes, I'd give notice to one of the tenants that I was not renewing the lease. 

Tell a debt partner that there’s no cash flow and you’ll hear the squealing tires of the process server as they rush over to serve you a foreclosure notice. 

we don't do that. it's not that common.  

Over the years, I've noticed many times that some people refer to their prior tax preparers as CPAs, so was just curious. 

I just purchased a house a month ago, and after moving in, I noticed that the toilet in the second floor bathroom is not level.

General Liability – This covers you against claims of Bodily injury and Property damage.Bodily injury – This is the most common coverage everyone is concerned about and rightfully so.These are the most common types of claims.It can be anything from a tenant triping on a step, falling from a balcony, a guest or passerby slipping/falling on the sidewalk.Property Damage – Example, your building starts on fire, and causes damage to your neighbor.Your ceiling comes down on tenants property.