Also would like to get rid om mpi, which would help my cashflow increase as I'm currently paying 612 a month.

Do you pay rent and have a lease? 

You should also thinkgholding costs, the longer you rehab, the more expensive it is because you won't have a tenant paying rent. 

Oregon were i am at is bad with this as well on the resi side.. but on Commercial there is no squatting those laws that resi tenants have do not exist for Commercial you post a 3 day notice and then you can legally enter change the locks kick whoever is in out.. that includes your commercial tenant that is not paying. 

My goal is to save on my living expenses and pay less than I am renting right now (my fiance and I pay $1,450 and split it). 

To my surprise, they provided a quote for a 23% management fee per month rent, which includes a one-year rent guarantee (regardless of whether tenants pay or not) and a maintenance credit of 2.5k per year.I must admit, I was taken aback by the figure.

Her mortgage statement is escrowed, this escrow pays the insurance only since she is exempt from paying property taxes.

I know it's probably nothing for a long term tenant but this particular unit will be short term only and would imagine people pay a premium for the experience.

I'm reading your thread and also am looking for a multifamily and would prefer to pay 20% down instead of 25% the lender I am applying with just told me that I have to put down 25% and that it's standard. 

The seller is asking for $40,000 down which I am able to pay in cash.