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

Account ClosedDoing a FSBO is a catch-22 issue, and your follow up question just proves it.When doing a FSBO, YOU are now the agent. 

Is this common?

Anode rods last 2 to 3 years not months so obviously you have other issues. https://www.amazon.com/Magnesium-Anode-Flexible-Water-Heater...

Crime is higher, turns are more common and the ROI in this pocket is lower. 

Is it a sign that this property may not be worth what I think it is worth or is this a common thing?  

I manage 8-12 unit buildings in Logan Square, Albany Parka and Irving Park, and we have had issues with porches even at that small sample size.  

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. 

The issue was eventually fixed but many landlords lost thousands of dollars.

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