Other units in that complex which were not up to date recently sold for roughly 90k and further distressed condos have sold for less. 

I appreciate the replies, including the PMs I received.I think in the back of my mind, I knew it wasn't going to be that easy, but you never know until you ask questions...Beyond just the complexity of the situation, regardless of the risks, the other problem I foresee is that the "predatory" nature that might be construed from this could shine a negative light on my real estate rental business as a whole.  

After that,  I would like to focus on more of larger apartment complex, but do not feel that I could manage everything while still working full time.

I've found that anything that cash flows (in theory) will always require rehab of some sort, pushing actual returns way down.I bought my first 2 family house back in 2013, and am ending up in the midst of a major rehab right now, after realizing that it really needs to made more up-to-date / be a comparable product to some of the new apartment rentals & complexes that have been springing up all over in LI...

I have been a landlord since 2012; I'm up to four houses and a sixteen unit apartment complex.

I have a condo under contract that I would like to try to sell to other investors in the complex.

.- This school is very popular for engineering students from college to transfer over (me being one of them) once they've completed their diplomas at college.

The seller could just hire a tax service to notify them of missed tax payments, so the complexities of impounding can be avoided (title company should be able to help with this).

A lot of apartment complexes in my area divide the water bill by the number of units and bill the tenants for it.

@Frederick Jackson - I know of a few off-market apt complexes available in greensboro.