They may be one to help you catch a bad error in your assumptions or direct you towards a deal you would have never sought.

I'm  asking because HOAs carry errors and ommissions insurance and that may apply here.

Remember to protect yourself, and if your state has a contractor's bond (performance and payment bond in the commercial/government space), this is the time to use it, to weed out contractors that think they can outsmart you, if they agree the 11k, the margins are really slim and there is no room for error.

Do you spot my error?

in my opinion that is a slim profit, very little room for error, but if you are fine with it, good.  

Also, since reviewing all of my records and the banks records I have found, what I consider, major discrepancies and keying errors on their part.What are my rights and what do I do?

If you are paying people outside of closing (identified as "POC" by most firms I've dealt with) then any errors and omissions will be on you.

Unfortunately, basement issues are a trial and error type situation.

.% of rents is a good starting point but I've found that it leads to pretty horrible margins of error.

Any advice from Veteran Investors will be greatly apreciated, I am ambitious however I am a rookie so I really am trying to minimize my mistakes.