.$45,000 +closing costs, debt service (interest or whatever terms you have with lender,)  holding costs (taxes, utilities, insurance,)$5,000 seems extremely optimistic unless you're certain the only thing you're doing is painting and cleaning up some floors.With those numbers you're already creeping into the $55,000 range.  

He is renting out to 12 students each with there own room and hiring a part time lady to cook 2 meals for them a day, clean twice a week and run errands..

Certainly nothing to be excited over but I can separate the electric and put that money back into profits and I want to use the cash flow of the building to clean it up, and raise the rents a little more and sell it in 5 years for a nice profit.Thoughts?

It can be hard to foresee what repairs will be needed, but landlords should consider expenses like carpet cleaning, paint, electrical, plumbing and any other fixes that keep a property habitable for renters.

Most renters want nice and clean, and wouldn't want to pay the bigger $$ for a brand new house..  

After talking a little more I found out that the house was inherited from past parents, needed repairs, needed cleaned up, and that they just wanted to wash their hands of the situation.Gahh!

When Auction sites say clean title Given does that include liens from POA dues?

With Downtown living space at a huge premium and year long waiting lists, those areas are a goldmine IF they can be cleaned up.

Is the extra $500 or so monthly worth it if you have to do laundry alot, clean, etc.?

Often you will receive payment settlements years down the road when the individual has matured and wishes to clean up their past.