For management, 10% of monthly rent: 90x12x10 = $10,800Maintenance: I think the maintenance for the older units is not represented in the #s above.

(and the 6 month seasoning is up) Should I wait until the county does their appraisal and then do the bank appraisal?

Performing notes are sold for 60‰,or more,  they are sold at a discount because the seller most likely bought this note as a NPN, seasoned the Note and is selling it as a performer.  

I think it is because: 1) we are in the middle of retail buying season and; 2) I've heard through the grapevine that New Western Acquisitions and Net Worth Realty (both realtor based firms) have institutional buyers paying 84%. 

Remember that the rentals there are still seasonal, and there is a low-demand season.  

I haven't gotten pre-qualified yet, but I know my FICO is 580+ I plan on using FHA financing to acquire this property, rehab, season for 6 months, refi, and repeat. 

Have any of you owned an older commercial property and been approached by a developer looking to purchase it for re-development?  

I am a tax accountant working at a big 4 accounting firm so a large chunk of my time is blocked off by tax busy seasons.

*shrug*By contrast folks actually residing here, that are here lawfully...Teach them how to hack FICO, they do exactly what they are told.Teach them to season funds, they do exactly what they are told.Teach them (or their CPA rather) what stuff we look for on Schedule E, make sure the rent and fair rental days are accurate, get aggressive with depreciation so no one is paying extra taxes for no reason, et cetera. 

At work it is often for an older person to die and to be living alone with the house in poor shape.