Welcome to BP and it sounds as if you are off to a great start.  

@Tom Smith the fact that you want to be in people's private property alone comes off as sounding creepy.

It will sound so good and so easy but don't do it!

I get why you would use that, but I have to admit that it still sounds bizarre to me.

It’s from a popcorn ceiling that was improperly removed so now we must do cleanup... 12k to wipe down and remove everything from the condo another8k to deal with the common areas that were affected - does that sound fair to you??

I am waiting to get quotes on the rates and fees and if there is any "gotchas" but it sounds promising . 

Sounds good.

It sounds like the property manager does not still manage the properties, correct?

If so then it doesn't sound like a great deal.  

This sounds terrible at first glance because of how often FHA deals fall through BUT the property will cashflow $1000+ per month after rehab.