At first, we tried to use a broker and he failed us!

I agree with @Mike Dymski - however I would add that you could buy a home warranty that covers the HVAC units which will run you $400-$900 a year, and will pay to repair/replace most of the HVAC systems when they fail.

I'm wondering what are the risks associated with purchasing a condo in a largly commercial building with possibly failing businesses in it.The current risks I see are HOA increasing if too many businesses go under and difficulty selling due to weird financing. 

Many people underestimate Mindset and its major role in the success of any entrepreneurial venture, and mindset in Real Estate Investing is ever so important, as Real Estate, in general, can be a very emotional industry (mostly on the Residential side, at least).Many people fail in REI because they never built the foundation of Mind Fortification (is this even a word?!

I was called by the title company that there was a sale fail and the contract said and it assignable The seller had signed the sales docs and the buyer was another bank and they had filed bankruptcy that day.

When my high bid fails to meet a reserve price, the property goes back on the auction block again, and again...   

. -- If the holder of a lien on real property or his agent fails to provide the release within 30 days, the person responsible for the disbursement of funds in connection with the grant of title to the property, after having made demand therefor, may bring an action to enforce the provisions of this section in the circuit court for the county in which the property is located.

Also I failed to mention that the property is a historical building.

If the pressure test fails, you will find a lock on the gas meter.  

@Jaron Walling I feel this post was an epic fail.