However, being in such close proximity to UT, it's possible it to rent it by the room (say $300/room), thus collecting more like $1,200/mo. 

FYI, I am interested to know if this is possible in florida county's public records?

is your only reasonable assurance that the credit repair folks aren't just trying to squeeze the person for as many months of monthly subscription payments as possible (which should be your default assumption about any credit repair person or people). 

In Seattle... it is possible but you need to do all cash to get decent deals and a good network. 

Do I close, and then sue for damages (is this even possible)?  

Possibly a little more or less.

I'm trying to get as close to the next door unit that is 3/2.5 as possible. 

For interest sake and possible future reference also have a look at Sustainability Products ( they are located in Kraaifontein, Capetown...not to far from you). 

Is it possible for me to have a few minutes of your precious time just to ask you a few questions about rental properties?

Good luck to you and I would love to possibly get together with you and some more seasoned investors for tips on investing.