So where did you eat the 30k from

You have only $150 to cover vacancy,repairs and capex. 5% vacancy, repairs and capex will eat $750 per month.

Those are the waterways that the poorer folks literally still eat from. 

Could you have your cake and eat it too?

Your insurance alone will jump almost double if you rent to students, which will eat away from your profits (if there are any at your numbers). you are no where close to the 1% rule. saving $200 per month for maintenance is definitely not enough.

I insure for around 75% of ACV, understanding that a catastrophic loss is unlikely; however, if it does happen, I can eat the difference. 

Remember that any mortgage will be paid off in 30 years, some of them throw off cash flow and others eat cash flow.

You should eat your profits completely before he loses a dime. 

The inspection period passed so unless you have another contingency, I believe the seller can keep your money.The appraisal and inspection fee is simply your money to eat.

Not sure of your specific area and would also warn that condos have HOA’s which cost money eating into cash flow.From your numbers, this does not appear to have much of any cash flow.