None of this may be true, but they won't take that chance and they won't put their clients in a situation where issues could come up.On the money side I just got a FSBO home listed at 389k under contract for 375k.

The student loan payments are no issues as long as you have the DTI ratio to qualify with them. 

I like to point out issues to save you time and money. 

The clerks that answer the phones are not privy to Codes and what applies to your problem/issue.

I've had broken windows, paint, and plumbing items flagged for repair but never stairs; although I have seen some really poorly constructed staircases and it's not terribly surprising to me that something like that could get flagged.Ultimately It's negotiable with the seller, although you should come to terms with the fact that you're an FHA buyer, and the seller would not have this issue with a conventional buyer; it entirely depends on your circumstances whether this is actually something the seller should pay for or not. 

Obtaining competent management was an issue, I have no confidence in the service personal in the local area.  

Permitting will be 3mo.

Another appealing aspect of this property is that it includes a house currently occupied by an older couple.One major issue is that the house and the neighboring property share a well.

@Julia HagenIf they are all permitted, then I would safely say 10 doors.

I have had to evict one guy for non payment of rent and evicting a woman on Tues for non payment of rent and disturbing the peace with her mental issues.