"This investor received a letter from the home owners association on one of his rental houses. Decorative trim had warped and pulled away from the house."

The wood above that window in front is pretty dried out and brittle. It's what I call dry rot. It is caused by wood not being sealed. The wood gets wet and then the sun dries it. There is no constant moisture to rot the wood but direct sunlight on the wood makes it so dry that it soaks in moisture deep into the wood. When it dries again it sucks all of that moisture out again. The process makes the wood crack or warp and become brittle. That's why good exterior paint has UV protection properties. Structural wood that is behind trim wood and such is usually not painted or sealed. After a while water starts to get through the dry rotted trim wood to the structure wood of the house. That moisture stays longer in the wood and causes the wood to rot. The moisture causes mold. The moisture and the mold grows and destroys the wood. Expensive repairs. Stop the moisture from coming in and usually the process stops. Your house has reached the structural damage but its just superficial. Hopefully we stopped it right there. I did not inspect anywhere else. I would say that the front is good because everywhere but that window has the metal covering over it. Why they don't cover that one piece of decorative trim I don't know. The house does not need painting so no one ever thinks about that one spot until the paint starts coming off. That's why the HOA always looks at that spot. Every house in the subdivision has the same issue sooner or later. Just give me a call if you need anything else. We replaced all of the rotted wood and sealed and painted the whole area so it is compliant.