The some of the repairs need to be completed before renting out.

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? 

@Yooni ChoiFor a first property, $100/month in cash flow might not be ideal, but it’s acceptable, especially with a house hack.

This can cover unexpected vacancies or repairs.

We are somewhat handy and would not mind fixing up the house while living in it. 3.

I am invested in a small multi family in TX and the management was not able to fill the property and do repairs and the income has dwindled badly.

The best thing you can do is familiarize yourself with Housing Quality Standards (HQS) and ensure your property meets them before your initial inspection.

One is house hacking. 

Then just ask: Hey, since you moved out of state I was wondering what your intentions were with this house.

Only other wild card is if they destroy the house on the way out.