However, it states "Needs some TLC, as-is condition".Any idea as to why an FHA loan would not be acceptable?

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If they caused a problem, they should fix it or pay if someone else has to do it.Sounds to me like you've bought a property in poor condition and the PM is nickel and diming you for a little extra every month.

I also make sure it is in good condition so I get a good tenant.

The fact that the bank is getting "shorted" does not effect the net effect of conveyance.In many cases the homeowner (borrower) has signed documents which attest to them leaving the property as a condition to the bank accepting the short amount of funds as full payment.

You have first hand knowledge of the properties that will come available plus their condition.

What was the condition before remodeling?

In fact, had you not used the water, TV or air conditioning, there wouldn't have been any additional charges."

Its kind of tough to believe there is not some other underlying problem driving the condition.

Just last Sunday I signed an agreement for a 2/1 14'x56' oldie (69 RitzCraft) that is in excellent condition with AC and Gas Furnace> The price was $2750.