Maybe if the numbers and situation is right, we can partner up and help each other out.

That is also why I stressed determining the condition and life expectancy of each system.  

Johann is only addressing part of the situation. 

In this situation we would be making frequent trips to the property. 

May fly down to meet if all looks goodWill leverage the killer agent's network to help setup the team of property managers and lenders on the groundClose the dealHave tenantsKeep tenants happy and stress free by providing spectacular servicesReceive check!

He works with over a dozen lenders and is able to go with the ones he knows will be more fitting to your specific situation. 

By work out costs, do you mean fees paid to the servicer to negotiate modifications or other terms in the scenario of non-payment, default, or other adverse situation?

Currently in a selling situation where a buyer only qualifies for FHA, but FHA re-certification at the condo is pending and volatile. 

I am about to buy my first property and with my detailed story I would love to hear what peoples advice on what to do in my situation to make the best of it.

Its a personal choice based on their tax and income situation.