The owner is a 75 year old investor with deferred maintenance.

Investing in physical real estate requires a large time commitment, as well as stores of revenue for employing building maintenance professionals and making required repairs or installations as needed.

If you wish to also create, assign and track maintenance requests try buildium.com about $40 month up to 40 properties. 

@Joe Henry Don't forget your capital expenses (calculated as a percent like vacancy, maintenance, management)

I would live there for a year, and then if I need to change cities I could remotely manage the property.My reason for going with a condo is that the maintenance work goes through the complex, making it easier to manage from another city.So my questions are:1)Is this sound logic, and a reasonable plan for success?

Also, get the daughter on the lease and have some maintenance done to the siding.

Also, take into consideration utilities you will have to pay and routine maintenance costs too.

The most time-consuming part of managing a rental (w/ current maintenance) will be leasing a vacant unit showing the place, BR checks, paperwork, and even that is short lived. 

You need to ask your self if your ok with a more high maintenance investment.

As well as schedule contractors to work on repairs and maintenance issues.