I ran across this property in my search for RE to buy that had delinquent HOA dues.

Lenders have ongoing requirements to meet taking a property to foreclosure.

...If I don't am I risking encountering ongoing problems with a property that has many old features? 

For ongoing management the fee ranges from 7-10%.You may also want to research if you are required to hold a realtors license in order to manage properties for other people.

Once I start marketing I plan on going H.A.M. and I DONT MEAN THIS KIND OF HAM!!

ongoing education:  SAE/MCE classes but figure $50 annually 3. 

At the same time, there are companies around that will take on customizations for you.As I was googling to make sure I had the name of the software right, I ran into this BiggerPockets article that mentions Podio as well.

Welcome Tony, this business is an ongoing learning curve for us all.

$10k-$12k in expense for $100 per month is  a pretty poor return....10% COCR at best, it would probably end up being less with ongoing maintenance, etc.  

After I ran the numbers/comps I came up wit a 30k arv so the most I could offer was 11k.