Also sounds like you might not have the capital for a major improvement if you buy something that needs work?  

As others have said get educated and realize, lack of knowledge and ability to perform can have serious negative affects on families.

On all 3 properties, I have manages the flip because of my background in residential construction, including performing all carpentry work myself while subbing out other facets (electrical, plumbing, etc...).

When it says "Compressor 35 psi for 10+ mins" that sounds like they did an air pressure test on the water lines and usually means the lines are present to perform the test.

However choosing to sell because the asset you have purchased is performing better than expected....that I dont think is a good reason to sell.

REOs are sold free and clear... or at least that is the bank's intention when putting the property on the market.If a title issue appears that prevents a transfer (these things do happen) the bank either remedies the problem before closing or, if the bank cannot perform, the buyer rightfully receives a refund of earnest money. 

He normally rents it for $1100.All I have to do is clean, perform minor repairs, and paint the property.  

There are a thousand reasons why someone would sell a performing property and none of it really matters.

Now, if your property manager was open to performing those other tasks, great!

We'll likely throw money at it once someone moves out and we need to improve it to increase rents yet again.