This would increase my monthly cash flow immensely.

I'd keep the boxes of trash they left for 30 days and take photos of condition at move out.

As rent increases with inflation, the rest of your numbers will follow.If buying a condo, thoroughly review the financials and make sure reserve account balances are in line with the most recent reserve study.  

Make sure you do a inspection of the property before she leaves so as to document the condition.

No I don't have much money and this is why I'm looking at these properties instead of ones that may be in nicer condition.

Were the late payments far enough in the past that they indicated a temporary problem that is now resolved, or are they recent and indicate a deteriorating financial condition?

I am in the DC market and right now I am not buying because all entry level homes in good or not so good condition are going for market rates and I scratch my head to see how some people are making $ without cutting corners on the rehab.

The NASB rates were a bit higher than expected:The loan amount is determined by the property condition, cash flow, retirement reserves, and recent property history.

@David Zheng You know that's kind of impossible to answer really depending on condition, rental rates, etc...but I'll play, my assumption is the condo building would be worth more because it is more likely owner occupied and have a HOA and what not.

Rents have increased here quite a bit but much less inventory from what I've researched.