And, be sure to reinspect the property to ensure that the problem has been fixed.  

The sellers says it's just college boys and that's to be expected.He's currently getting good rents...as unbelievable as it may seem and if cleaned/fixed up it could make more as well as increase the value of the property.We own several coworking/coliving properties in the US and Mexico, so we are used to hospitality and properties out of state.However, my questions are;Is this a norm for college students, or student housing? 

The BP community of course naturally gravitates to fixed rate long-term debt on real assets as probably the safest way to use leverage to build wealth. 

I'm fine with doing some minor fixes and improvements to a property: Adding overhead lighting/fans, better flooring, maybe redoing a main bathroom.

If you like your job, and your goal is to create long term wealth through equity then keep the property, fix it up over time, and in the future you will be able to rent it out for profit.

., on SF investing and buy and hold, and fix and flip, I believe MF is one of the areas I want to work and grow and develop.

That doesn't pass a cursory BS test, and risks the appraiser calling out either fixed plumbing + permits, or a licensed professional remove the bathroom.

In a situation where you were doing an arbitrage (renting it from the owner, then yourself re-renting it to someone else) your costs to renovate/fix it up while you're using it would be able to be capitalized and depreciated by you once your rental was in service (available for rent to others). 

you also need to source the property, and for BRRRR you need a goldilocks property - something that is distressed enough that you can buy substantially below market, but not so distressed that it's not worth fixing up.hope this helps - happy to help further

It's a turnkey property I found on RentToRetirement, so It's pretty much already fixed up.