For good deals you have to find the properties in the worst condition, but in a good area.

I have known couples that have as much as gotten divorced over the experience and results of their construction projects and also seem people go bankrupt or simply go through the worst experience of their life leaving them concluding that they will never not ever attempt construction projects ever again. 

Some did multiple tours.In 2008 we were faced with the worst recession since the Great Depression.

I'm sure this will hearten landlords everywhere...http://www.businessinsider.com/buying-a-house-was-the-worst-financial-decision-i-ever-made-2015-6

If the moisture continues or gets worst you may have to consider what @Adam Drummond had to do.

Worst is that the manager can seem ok when you buy but at any moment they can turn against you and refuse to approve your renter.  

I'm looking for a 2b/2b, and because I'm planning on living in it for a while, Id like the location to be near a bit of night life, restaurants, bars, safe, etc, but when it comes to the actual home, I'm fine with getting my guys to do some remodeling work on the inside after purchase (aka "finding the worst house on the best neighborhood").

Take the situation to its hypothetical worst conclusion: the former tenants sue you for their security deposit.

Worst case is they really are professional tenants and know how to milk the system and get a few free months out of you. 

According to this article from Vice News it's the worst place in America to be a tenant.