Old house, so bringing it to code and what not brings the total up to 14k.

I am new to the phoenix Arizona area I just came across a deal and i'm wondering if the numbers add up the house has a mortgage on it that the sellers want to be paid off the area where the house is in a decent area they did some work on it they added an extra bedroom so instead of it being a 3br/2th its now a 4br/2th 1,400 sq foot with a lot size over 6000 sq ft the mortgage thats owed is 53k the house needs minimal repairs it really just needs to be updated they want are asking 102k free & clear and they want the mortgage of 53k to be paid off  total asking price including the mortgage price 155k is the total asking price houses in that area have sold for a wide variety of price range is my concern they range selling price is anywhere from 80k all the way up to 210k  properties withing the 1 mile range of the house have sold for 170k to 210k is this a good deal or should i try to go back and renegotiate the deal

This can be a touchy subject here in Hawaii...most folks rely on the hotel industry for employment...VRs can/do take away revenue from hotels. 

Understand the fees involved and calculate the total cost for an entire year of management so you can compare the different managers.

@Nicole Collins just keep this mind as you search for your Multi-Unit / MF property . . . the  total gross rental income divided by the number of tenants / units = gross rental income per unit.  

He had a bandit sign that read "leak repair $150.00", so I estimated total repair of 4 items would be $600, but his bid is for $1,000.00B) Contractor B bid $700 to fix 2 leaks, replacing 10 feet of plank wood 2 pieces, replace shingles (no plastic cement).

I wouldn't weigh the decision based on SE income, you would want to figure it out based on total income. 

These are the going rents:4bedroom- $1,1004bedroom $1,1003bedroom $9002bedroom$800Projected Total gross rents $3,900 x 12= $46,800MY PROPOSED DEAL STRUCTURE...I need to deed!

@Alex Tobias, for us it totally depends. 

Total value is $1.5-2M.