Apparently, all of the items listed on the original scope of work need to be done and nothing can change without some authorization from the bank.

Add columns with SKUs or Item numbers, prices, etc... depending on your desired precision.

I need to get a property insurance policy for the HOA to cover these items.

If you buy wrong you might not get that payday you were planning on....and as many have attested to on BP and elsewhere could even take a loss.

You can still try to get the seller to pay the fee, the buyer might could roll in the fee if the loan LTV is low, or the buyer could offer a consulting fee to the broker/agent to look at specific items.

As a new investor, what are the top items that I will need, besides money of course?  

Always do the analysis numbers and try to look at it before you make an offer or at least have a clause in the sales agreement contract that will allow you the time to get an inspection and possibly back out of the deal if you want to without a penalty greater than your earnest money.When you close on a property, right after it, get an insurance policy that will protect you if there is a loss.  

However, worst case scenario should be the loss of your earnest money and not having to buy the home yourself.

It is the same as weight loss.  

It needs about $80k for the big ticket items, kitchen, 3 full baths, siding and central air!