I am in the same boat and completely agree with you in that the rental market does seem to be changing quite a bit in recent times- much more difficult to get good qualified tenants these days and decent tenants seem to have their pick of the litter - often very flaky and uncommitted because there is so much supply out there.Rent price is definitely a key issue but what's the more likely outcome of a significant drop in rent price below market?

@Mark Jajowka It is getting difficult to place insurance if the building has an older roof.

Certain property types can be more difficult to finance than others, one of the more difficult to secure financing for is multi family or mixed use properties above four residential units. 

It's very difficult to simply build affordable housing, but perhaps older housing stock can become more affordable as new housing is introduced.

Wishing you and your mom all the best in navigating this difficult life challenge.

So, the seller was NOT AT ALL equipped to deal with the difficult tenant situation and the agent wasn't prepared to put a lot of effort into a troublesome deal that was of low value.

I live in the Daytona Beach area & finding something turnkey for sale that will cash flow is very difficult, the prices are still too high.

Finding it difficult to run numbers and get a solid feel if the condos I'm looking at will generate the interest needed through the year.

Given your situation, it will be difficult to find a hard money lender to fund 100% without having any experience.

Rentals can be difficult now in Tampa with the rise in home values and the increase in interest rates (close to 8% now if not already).