I am doing mid-high grade rehab on my primary residence and have the flexibility for the long lead time & consequences for delay if cabinets are damaged in shipping (requiring another 5 week lead time to replace).

He said all it takes is one leak (which is inevitable) from the second floor to cause a ton of damage. 

No clue on your local laws in terms of maximum termination fee on an annual lease, here in Florida it cannot exceed 2 months rent as "liquidated damages" for early termination. 

They may uncover some things a GC may not even notice, and in the case they find something major that $400 investment could save you thousands if you choose to back out or re-negotiate the purchase price to reflect those damages. 

(could be refinished)  I don't want to pull the carpet and have tenants damage the floors throughout the home though...  

Wait until the tide turns in your favor before you look to buy your own home and limit the damage.  

Obviously, one of these managers you want and the other is responsible for water damage to your property.I hope this helped.Good luck and remember*DFTBA*Don't Forget To Be Awesome 

Auctions are very competitive and predatory and it's easy to get caught up in the excitement and do yourself serious damage.

Poor work ethics, drinking on the job, etc.If he does not finish you must exercise whatever stipulations that you have to resolve a breach in contract.Seek legal advice and have an attorney tell you what can be done.Depending on the state there may be a fund that you could receive damages from if he does not finish.I am no expert, but your contract should have been created by a lawyer or at least reviewed and include what you can do and should do in situations such as these.

There's likely going to be wall damage and/or nasty adhesive to deal with when the mirror comes down.