@Shaun Marks  First Congrats , since you wish to payoff the the new HELOC I believe you will have no issue with a common  six-month title-seasoning wait period.

Contacted the property manager because bylaws state damage from a common element (the roof in this case) makes the HOA responsible for repair.

And the light bill(common area) double from $80 to $165 i don’t understand 

Someone suggested having a “basement expert” come in for a small cost and give the green light or to hold off and we didn’t find one in time.Is this something common to waive inspection on properties that are in bid wars?

I know many agents who sell OREO and its common for them to know nothing about the property and tell you that up front .. thats where the deals are.. the advice to just run because an agent said that is not good advice its knee jerk reaction.  

Your's is a common question I'm asked all the time and unfortunately I still hear the tax now vs later answer too often. 

A high volume manager will probably already be managing units in the same subdivision, and may be able to tell you problems with the construction or layout that are common with particular builders in the area.

@Alex GrosvenorIf you buy retail deals off the mls option periods are common.

In this business, we know there are many different ways to allocate your time, but my goal is to eliminate pitfalls and follow the success of others who have done it well in addition to the success I have seen.

It's usually more productive and efficient to work with a person or company that does it all the time to know what pitfalls to navigate.