I don't understand why the owner would be selling something like this unless there is something wrong with the property or tenants.

Think of all the things that could go wrong and see if the lease addresses them: unauthorized pets or tenants, early termination, security deposit, lease violations, late rent, eviction, lawn maintenance, parking, etc.5.

I am interviewing new property managers but also had a discussion with the current managers to see what went wrong and how the issues might be fixed.The current property managers tried to reason that in my area/county I would need to expect a higher eviction rate due to the tenants that rent there.

Believe it or not I have read where the wrong checkbook was used for an incorrect apartment building, investor claimed he cleaned it all up by keeping the street names for all record keeping purposes.

I think you're looking at this the wrong way.I assume you have a personal home with a mortgage.

Obviously it rubbed me wrong. 

too hot or just looking in the wrong place.

What can go wrong if the numbers are laid out from the beginning and there are tenants in place to back them up?

Beyond that, I don't think you did anything wrong other than get the place rented before it was ready. 

Think of all the things that could go wrong and see if the lease addresses them: unauthorized pets or tenants, early termination, security deposit, lease violations, late rent, eviction, lawn maintenance, parking, etc.5.