You don't say whether you already have a blanket policy you can just add to with this property, but if you don't you may be surprised at your insurance cost.  1990s product is not too old, so that will help, but if you are basing your assumptions off the seller's numbers and the seller has other properties, chances are that this is just the cost represented by this property as part of a larger insurance program.  

I believe it's called the "Tenant Habitability Program" or something similar.  

Network, social clubs, chamber of commerce, newspaper advertising , craiglist, car signs, Youtube, investor clubs, school board meetings, church groups, Personal lawyer, mailings, foreclosure lists, neighborhood door knocking, drive bys, grocery store bulletin boards, Trulia, Zillow, realtors, expired listings, RealtorTrac, FSBO, Garage sales, Open houses, Family reunions, Fire truck chaser, Funeral chaser, Floods, Classified ads, Apartment rental listings in newspaper, Current Tenants, Hud home auctions and listings, REO's, Real Estate auctions, Auctioneers, Appraisers, Relationships with Building code inspectors and others in office, Propertry Tax sales, Sheriff auction sales, Soliciting mailings to Probate lawyers, Real Estate seller lead providers, GURUS that have lead programs, Start an RE investment club locally, Hold seminars local on how to buy a home or sell your home. and on and on and on.

I called my accountant right away when I found this out and he stated it had to be done that way because of new program or something the irs is using, taxes would not allocate properly or something.

We can always use more investors to help provide the housing that will be needed to double our populating over the next 25 years.We offer a turn-key program focusing on Tax Sales properties. 

How about researching special programs targeted to those in public service, for example,http://portal.hud.gov/hudportal/HUD?

Also I have personally used a credit repair program from http://creditlife.us/.

(get seller to pay the closing costs and you can get a decent house pretty cheap)The cons: -you will have to pay PMI for life of the loan- contractors that do the work need to have all proper paperwork, and lead cert if doing lead work (these guys can be a lot more expensive)- 3.5% is based on total project cost, not just the price you pay for the home.

They have rental assistance programs here in Georgia to help people, although I'm sure its a pain in the butt to get into.  

Then check the taxes to see if there are any delinquencies there or if a tax lien certificate has been sold on the property.