This may result in late fees and eventual eviction if not cured within the legally provided time. 

This along with the time of year does make it slower.  

I was under the impression that FHA is first time home buyers.

And you're getting tax benefits.So many of my first-time Colorado investors are afraid of looking stupid because they got a "bad deal."

"Boots on the Ground" is much more valuable to you as a first time investor than looking at demographic data.

First time posting - new to BP.

It took quite a good time (~6months) even with a property manager but finally found the renter after rent decrease by 200$.

Since the seller is behind $20K+, you’d need to clear that debt first before proceeding with the assumption.2.

@Hunter Duplantis what @Gino Barbaro said is exactly what I was going to suggest.When you have vacancy is the time to experiment and apply your original thesis.I’m not trying to play Monday quarterback here but, you should be highly confident in where the rents should be well in advance of having a vacancy.That being said, after confirming competition rents on websites (I’d also recommend Craigslist and Facebook marketplace), you should be in alignment there.  

Most lawsuits against landlords involve wrongful eviction, security deposit disputes, and Fair Housing Violations.