Im definitely not getting an amazing deal or anything just the certainty of the upkeep, remodeled bathrooms and familiarity rather than try to hunt a multi family house in another town.

@Ivan Barratt  I don't know about that just opinionated  :)  its not rocket science just buy close to the median in a given MSA use a quality company and a very good PM and things should go OK for you.its those that are determined to find the highest return and don't weight the risk or don't realize that risk is pricing the market..  

Every market is different, but I know in my market here in Connecticut an offer with no inspection contingency and a high earnest money deposit amount carries a lot of weight.

Usually a property manager markets the house and manages upkeep but the owner still pays for everything the property manager just usually makes about 10% of gross rents (probably varies based on the market)If your not a property manager but somehow work a deal where you can sublease you’ll want to make sure that you do that right and have a good contract that protects you.

Also, if there is a decision to be made whether to liquidate the property or not at the end, do investors vote with their votes having a weight proportional to their equity? 

Seriously listen to @Michaela G.Everything that I've been taught about credit history is spot on to what she's saying.If you go and pay off the amount it will become recent history and carry more weight than just leaving it alone.If you're going to do anything, speak with a reputable credit repair person.

I actually have a copy of the lease but it is not signed... do you think this holds any weight?

While I know as dad's it is our prerogative to fix things for our kids and make everything easier, I think that she should feel the weight of $100K of debt as much as possible. 

They weighted in three major categories:Emotional and physical well beingIncome and employmentCommunity and environmentI think these lists have value as cities try to attract businesses and residents.

As your property ages, maintenance and upkeep also tend to get more expensive.