The truth is, if the owner did increase the rents and was operating the property to market conditions, and at the most optimal level, they likely wouldn't be selling the property.

Year round occupancy levels trend around 65%. 

Never  had any issues to speak of looks like a the floor was not level  I mean  BIG time not level  this stuff is very forgiven stuff can take a beating and still look ok .Or it was not installed right .

The issue is this negative initial cash flow increases the amount invested which will impact ROI forever.I do not do flips, but if I purchased this property I would be flipping it rather than suffering that level of monthly negative cash flow on that cheap a property.Regardless if you rent or sell, add a closet to each bedroom.  

My house more than doubled in value and so I don't see prices going down to the levels they were a few years ago.

If you order laminate it is almost as much as entry level stone, at that point I'd go with stone. 

I am going to try and answer this question with a fair amount of grace, so please bear with me.As to the original question, here's a rough idea of my thought process regarding a potential purchase:The hospital is a Level II trauma center with 390 beds (that's a decent-sized hospital), so it probably needs a fair number of travelers.

Coastal, sea levels, pollution, etc., those one's are going to be more prevalent and likely inappropriately evaluated.

In the short term, I aim to replace my monthly income from my current entry-level job, I dont make a ton of money so this shouldn't be too difficult.

But they use high level tech....pre screen, self showings, and the 1225 is the standard fee for first month lease up services including them drafting and getting tenant to sign lease..