Your Taxable Value on this property is $ 71,500.So here how it breaks down for your taxes in Rock Hill SC:$71,500 x 6% = $4290 (6% is non-owner occupied taxable rate)$4290 x  .4108 = $1762.33 per year  (.4108 is the current 2017 millage rate)So your taxes are going to be $146.86 per month.Here is a copy of current millage rates per county in my area.After looking at your numbers I would think your rehab budget is low.I have a lot of property in Rock Hill and you need to make sure you get a home inspection. 

Non warrantable condos are always an issue, there are lenders that will finance them, at a slightly higher rate of course and usually with a larger down payment.  

He also called the Department of Environmental Protection because these folks have trash and debris all over their lot, he said the DEP is making them clean it up.  

While you are working on cleaning up you debt, you could also work on improving your knowledge in Real Estate and get familiar with all the other Real Estate investment strategies, Learn how to analyze random deals, ... etc.

There aren't really any formulas for this, your best bet might be to look at the pictures in rental comps other than that I would estimate the difference to be about $100 in rent for every $1000 of rental value if everything in a non-updated unit is clean, usable and looks reasonably nice.

If you get a conventional loan for a Non Owner Occupied (NOO) property, then you wouldn't need to live in it at all.

I could point out the differences in fair housing laws between house hacking and non OO renting.

I had identified a few properties on the list of interest with a non-redemption strategy in hopes to initiate foreclosure after the 2 year redemption period, here in New Jersey, thereby acquiring a property or two with future plans to fix and hold or flip, etc. 

Install non-rated aluminum framed windows with either tempered or laminated glass and cover them with permanent hurricane shutters.

The thing is that an FHA loan is for non-investment purposes.