You should be able to get preliminary information based on your self reported credit score etc.

What I typically write up when investigating a property is the following:VACANCY: 7-10% (depending on where the property is)MAINTENANCE: 10%PM: 7-10%Some other expenses you should look for are:Taxes, insurance, water/sewer, garbage, electric, gas, advertising for units, lawn service/ snow removal, accounting or legal fees. 

But fundamentally I know these costs for land development always exist, in all markets at all times:LandUnderground utilities, wet and dryMass gradingRoads, sidewalks, curb and gutter, signageDrainage, i.e. the building of detention/retention basin, spillways, and/or underground drainage structures (usually under the street).Development impact fees related to land (does not include the fees that you'll pay to build each houseFees:Park feesTraffic feesDrainage basin/district feesWater basin/district feesANY AND ALL OTHER FEES THAT EXIST (see below, ask and ask and ask) WHATEVER THEY MAY BESoft costsDesign and engineering costsPlan check fees for your final plat map and engineering plansPlanning application fees if processing a zone change or general plan amendmentEnvironmental studies, investigate endangered animals and plansPhase I, II, and III environmental studies, i.e. toxic and environmentally impact soils conditionsThe most important thing to remember, is that this is and must be a flexible list, not fixed and objective.

I know I wasn't super specific about the deal, apart from my opinion on the rent, but I think the other points are going to be super relevant as you investigate further in the condo.

@Tony Conway  Texas is not an attorney state.. title company gives you a preliminary title report you read it and any of the issues you bring up are revealed there..

I'm unsure if I should investigate out-of-state and international buyers to apply and test this business model.

The insurance company will then pursue the borrower/seller civilly and investigate the title companies search to see why the lien was missed. 

What are some preliminary things that I should look out for from a Property Manager?

I would also farther investigate why she is moving from home ownership to renting.

Better to get ideas here then investigate them yourself.