The main work needed on this property is replace the flooring,  update fixtures, paint the walls, clean up the pool and the outside.

As a result, some CPAs will charge a clean-up fee when they're preparing your tax return and this will cost you more than paying for a year-round bookkeeper or paying for real estate-focused accounting/tax software (like, Stessa, digb.com, or Quickbooks Online) that auto-categorizes transactions and will allow you or your CPA to export filled Schedule E.

Costly but probably cheaper than your water bill and clean up costs.

You can alway call a contractor to come in and clean up your mess.

Once the tenant leaves, the agent (or the AM) hires contractors to change the locks, trash out, clean up, landscaping, & repair. 

While I don't like the extent law makers went to in many aspects, something was long overdue to clean up the mess.Now, by golly, I'm going to the store and I'm gonna drive 100 mph!

(Another idea I had was to skip wholesaling and jump right into buy/flip and do 5 flips with $40k profit or 10 flips with $20k profit and get funding from a HML who will do 100% financing and doesn't charge any points, so I can flip my way out of debt and clean up my credit, but I'm not sure if that is even possible to do or if HML's like that even exist.

And if they did attach to the property as liens, the bank owner gets to pay them.If you wanted to buy this at sheriff sale, you might have had some worries - but as REO, the bank that owns this gets to pay to clean up the mess. 

The property management company pays the Resident Manager to vacuum the halls along with general clean up of the property and are the eyes and ears of the property.

To purchase this, I would need to significantly deplete our savings.