It has due on sale risks, like any sub2.  

You will hopefully have a camera run in the sewers to help mitigate that risk, but its only one example.  

Better have some money, some patience and lots of tolerance for risk.

With different comes risk.

Not only does it make the house stink, but there's a lot of extra labor involved (i.e. washing/scrubbing walls) whenever it's time to repaint. 

It sounds like you don't want a rental - so you need to look at your options to sell...owner financing, conventional, etc.You could do an Executory contract as a means around the 180 day limit but would seek legal guidance as there are lots of disclosures and risks with that route.Also, I assume this is residential - the requirement does not apply to commercial or investor purchases.

I would pass, between the risk of the corporations unloading their houses one day and the unknowns with the HOA there is no telling what will happen in the future.  

Therefore, those with a criminal history are at a higher risk of committing crime than a potential tenant that has a clean history.

That was the safest low risk way for me to feel my way through a flip.  

Risk can be mitigated in markets that are stable or have modest growth during dips or in sub-market locations that are desirable.