I have come across a condo association that is VERY rundown (drugs and homeless) and not doing well at all, interestingly it is surrounded by multiple apartment complexes geared towards students.

Implementing a new lease that includes late fees and consequences for multiple times being late for rent immediately.

I don't see anyway I could have time to manage a flip, much less multiples. 

I am relatively new to the whole real estate business, I have read the Bigger Pockets Ultimate Guide as well as multiple articles of theirs.

They have more skin in the game then you do.Make sure you get clear title.

I have been looking with multiple agents and I can’t seem to find a healthy cash flow.

You will have to have some skin in the game.

I also have a rental property with State Farm and got them to consider my rental property for the multiple policy discount. 

I've worked with Lynn Hesselbach multiple times.

If there are mice in 1 unit they are probably in multiple units.