VA is a buyer-beware state, so technically we'd still be required to purchase if that had occurred here, but you might want to talk to your closing attorney for clarification on OH.

That is highly unethical and probably illegal; however, internet sites such as Zillow making all MLS properties readily available to consumers, the "knowledge paradox" has all but been eliminated, so my hunch is that this probably occurs less than we all suspect.

If emergencies occur there will be funds to make the payments. 

If you want to know your IRR then you need to delineate those that are monthly expenses and one time expenses and when they occur so they fall in the correct time frame when solving for Your IRRCosts could include but not limited to taxes,, insurance FPI, collateral storage, servicing, misc servicing costs (see what servicer offers and you will understand the list of other costs you will incur which is too long to list), property preservation, loans mod fees, forbearance fees, legal fees, realtor fees, if you take it over after foreclosure then you have maintenance fees (mowing lawn).....Send me a PM and I can let you know what I missed as sending from my phone and do not have my calculator in front of me

(e.g. credit scores, etc)3)To ensure refi occurs/is attempted w/in certain timeframe, can it be written in contracts that buyer will do so by certain date?

Make sure she calls 911 with these issues when they are occurring and not the property manager.

That one is free, occurs more frequently, and offers a wide variety of topics.

Meaning if something occurs and tenant 1 or tenant 2 were also involved, do I not have coverage simply because tenant 3 was involved?

Assume that the optimistic situation were to occur, THEN you add some more tenants and get the building to maybe a 90% occupancy...That would bring in about another $9k a year in rent. 

Severe water damage occurred in the second floor and first floor.