The only items attached to the loan is the purchase price of the property, the rehab, and any fees associated with your HUD consultant. mostly everything else is an upfront out of pocket expense. 

Be sure to note in the move-in property condition report all items that are not attached to the building which you are leaving for the tenant's use.

However, a $1k loss is about as cheap as mistakes come in the real estate world, and is a lot cheaper lesson than any guru class you're likely to find.  

It's a fun exercise to divide the replacement cost by your estimate of the items useful life to calc out how much you should theoretically have in your reserve fund each year.I'm a long ways from theoretical, but at least I know how far off I am.Best to you.

If it is all common you could just say the common areas are for the quiet enjoyment of all and items placed in the common area should not interfere with the quiet enjoyment of other residents and are subject to rules and guidelines that the owner shall put in place from time to time.  

Sometimes the easiest thing to do is just sell and take a loss then deal with malarkey.

Buy-and-Hold investors fare better because they are less concerned about the immediate value of the home, but a downturn or recession (even a local one) often comes with job losses.

I read another thread stating that the landlord really can't be listed as additional insured on a renter's insurance policy for because they have no real loss to claim (in more insurance-esq terms).Do I then have any incentive to obligate my tenants to purchasing a renter's insurance policy?

Not even $50k....though it should be.The Common Expenses Maintenance Fund section the bylaws it says that every year by a certain date we should distribute an itemized accounting of prior year maintenance spending and the same for the reserves.

They hope to do PM as a loss leader to get deals down the road.That isn't my business model and never will be but I understand those who do it.