As far as the HOA I don't foresee any problems with this part of it since the one for this building has a decent surplus of funds in savings and likes to get repairs done for the best price possible.

The LCAM in this community stated the surplus of the fee goes to parking lot maintenance. 

Lining everything up on both ends (sale and purchase) and being able to close writhin the 180 day window makes it a strategy that is better when there is a market surplus.

You could also cruise the monthly sheriff sale and the county surplus sale. 

Due to the surplus of information on this site, it can be overwhelming at times.

If you bought the 3rd position you would be entitled to what was left after the all the liens senior to you have been paid out from the surplus bid.

You want to compare the surplus per year, along with the replacement schedule and make sure they're on track to have enough $ built up to replace them without a special assessment in N years (where N is the remaining useful lifetime of the component). 

Any surplus funds generated by foreclosure belong to the record owner.If record owner is deceased, the overbid funds would be part of the Decedent's estate. 

Cutting UW System by $250 million, taking hundreds of millions of dollars from our public schools and auctioning our state parks off to the highest bidder does not equal a surplus," - http://www.prwatch.org/news/2015/06/12855/there-no...

One thing to keep in mind, it sounds as though you've been subject to these threats all along and now that there are either people on the waiting list or a surplus of rentals, the threat has been realized.