Just keep on going and try harder and smarter.  

@Garison Clemens i was planning on going but hurricane prep prevented my partner and I from attending.

I do plan on going to ACH with Appfolio but I'm still new to the software and perfecting the tenant payments by ACH first.

Ongoing PM ___% of monthly rent?

We do have another 2 Duplexes in another town that we have on going rehab being done.  

I have a very successful and profitable business in student rentals and will provide the buyer with the information and guidance to make this property an ongoing financial success, including advice after the closing if wanted.Estimated Financial InformationPrice$164,000 Monthly Rent2,520 Annual Rent30,240 Utilities (water)($480)Current Taxes($2,640)Repair / Maint (7.5% rent)($2,268)Insurance($1,000)Annual Operating Income23,852 Closing Costs5,000 Mortgage (80%LTV)131,200 Total Cash Invested37,800 Monthly Mortgage Pmt @ 4.5%, 30yr($665)Annual Mortgage Pmt($7,977)Estim Net annual cash flow15,875 Cash on Cash Return42.0%Gross Rent Multiplier5.4Cap Rate (NOI / Price)14.5% So here is my question:Is is reasonable to rent student housing for 12 months a year?

If you can get a copy of the lease, review to see what the LL and Tenant responsibilities are for on-going maintenance.  

Willing to do some rehab work but less inclined to an all-out gut job while living there.It would be nice if this circumstance could springboard into successful real estate investing ongoing but I do not yet know how serious I will be about it as time goes on so I'm a bit cautious.

My questions is do I submit a an offer planning to pay all the fines myself (much lower than the current asking price) or do I submit an offer contingent upon Fannie Mae paying the fines current so that I'm only responsible to pay the ongoing fines until the work is completed with the proper permits. 

In short, it seems like it would require only attending board meetings once per month and managing ongoing maintenance requests for the community and general upkeep (for example landscaping).