In the spring, this home would have sold for $35k more. edit: on the one with the unfinished basement: You could add a bath and finish it as a value add to boost your return when you sell. 

The plan is to live in it, flip it, try to house hack it with Air BnB then sell it with a hopeful profit months to a couple years down the road. 

Late spring, I drive by my rental and there is a trampoline on the driveway..  

For example, a cold water supply pipe above that vent might have warm moist bathroom air from the downstairs shower/bath migrate and condense on the cold surface causing a drip drop minor leak.

I have seen that for Floor coverings and wall air conditioners but other items could be in that category. 

I'm 28 years old and on track to graduate in the spring of 2016 from undergraduate.

The major needs are central heat/air, new windows, new doors, updated electric/plumbing, and a new roof.

A property behind one of ours suffered a similar fate early in the spring, it turned out the tenant was cooking shatter when things exploded.

The next with a six month lease (takes you to Spring) with a $X+ increase for the shorter term.  

You should have already received a copy of the lease from the current owner, but if not get it IMMEDIATELY so you can look it over.To be more thorough in you may want to spring for certified mail - make sure you have documentation of when it was sent and when it was received.