It still might affect you. Check out your HOA bylaws if HOA need to pay up for any improvement. For such a steep slope, at least some ripraps are required.
Run away from the deal... - 住着提心吊胆,万一 mudslide 将山坡上房子冲下来咋办? - 影响市值,以后难卖 - 将来很多麻烦等着你烧钱...HOA Special Assessment,房屋保险公司也会增加你的 保费...it's like a Pandora's box...
I will stay away from those houses after seeing that little puddle of water. That's not a good sign, there's drainage issue with that land. The risk of water damage to the house is higher than normal. at least it's not good for your lawn or garden.