It doesn't have to be fancy and written up by an attorney, but it should be very clear and signed by all parties so there's no confusion.

That's fiscally conservative, practically bigger pockets heresy (people are looking at me and taking their pitch forks out, as we speak), but whatever, so be it.

I’m actually more conservative than most, I put away 20% of rent for these.

So the more tax you can defer over time the more income you'll make over time from the deferred tax.A 1031 does require the use of an unrelated 3rd party to the transaction called the qualified intermediary. 

Most importantly, it conserves your cash and minimizes your risk. 

If you did conservative depreciation and took $10k of it - you will have a depreciation recapture tax on $10k.

It will also originally serve to provide a framework to use in gathering and inputting the assumptions and quotes you ask for and receive from perceived informed parties.

Does anyone know if back HOA fees are wiped out by a first mortgage foreclosure purchased by a 3rd party (me) 

Not the tanks that you fill yourself but maybe a 3rd party type bottle exchange where you get a cut.

If you are going to do it, you need to do it right, set up a proper, legal company and that will involve dividing up money between all parties.