The seller is acting like I'm an idiot for thinking that the amount of deposit written in the lease is the actual amount collected.  

In addition the property manager does not collect 10% from the Section 8 subsidized income portion of the rent as "she does not do work associated with collecting the Section 8 portion of the rent."  

Have the PR submit a claim, you collect and repair after closing. 

Another option I was thinking of is keep it for a year rent it out for a year lease, collect some cash flow then sell.

They'll collect current maintenance fees and pay current bills if there is enough money.  

In California PM you will find individuals that prefer to perform the monthly duties of collecting rent, and some that prefer finding tenants, and some will complete both duties.  

Especially, if you don't know how to really analyze a building and overestimate what you expect to collect in rent and underestimate what you'll end up paying in legal fees and repairs.A friend bought, I believe a 6 unit in the high desert at what was thought to be a great price.

In 2008 I had gone broke going to school out of state and getting a collection on my credit score, it suddenly became very difficult to get loans to go to school (keep in mind, I had no support from my parents and was living on my own).

I also like to check self help books out before I buy them to make sure that they are something I would want in my collection. 

More units, still one mortgage, one tax bill, one insurance bill, one lawn to mow, you can even get one garbage contract for the place, small dumpster or a few cans & drag them to the curb on collection day.