I speak to this with the great divide in mind - cash flow or appreciation - the REI mind/body problem so to speak. 

With that being said I am located in the Orlando area and would like to extend a helping hand to any and everyone doing any sort of rehab projects.

Also, you want to add this filter because most absentee owners would have experienced some sort of issue with a tenant or a problem with the property within the first three years, which will allow you to negotiate your purchase price down.

It took them 2 years to build their home from being given all sorts of grief by water/sewer, zoning and codes.

Does renting by the room tend to be more profitable in this sort of student rental market?  

@Sarah NguyenWe always let the tenants sort out paying out the security deposit of the departing tenant - we never return a portion of the security deposit until the end of the tenancy/lease.

If anyone could offer any sort of advice it would be greatly appreciated.

But you might continue the relationship with the provider acting as a sort of counselor -- someone to turn to for advice when you run into issues with the house, tenants, PM, etc., and also who you return to when you're ready to buy your next.I probably wouldn't characterize what you're doing as turnkey. 

Doing some google searches and trying to find info about not being able to refinance out of PMI anymore, I can't seem to find anything of the sort.

We need to get the word out before these groups are sending this sort of propaganda out ultimately they want housing to be a human "right" taking our property away.