First to check your lease to see if These terms are in writing.  

You can read a lot but the nuts and bolts that will shape your working days come down to state and local statutes, how working with the local government (Housing Authority, building inspectors, etc) is done, and then all of the fun that comes with leasing and managing tenants.

On an average 2 year lease.

On an average 2 year lease.

I know she has iffy credit so have started thinking about lease to own for tenant.

owner has not rented it out this semester due to do some rehab, actually did most of the bathrooms and they are in good shape, carpet is awful, needs paint, kitchen cabinets and better lighting. lower level apt needs gutted due to toilet leaking from above. here are the numbers:purchase price 330krents last semester avg=333/month, did not rent over summer, "I let them just leave their stuff til the next semester", my friend was seeing RED after this statement...expensesrents (if occupied at 333)=3663/monthtaxes 2200garbage =100 (actual quote from WM)water and sewage 525electrical=passed through to tenantPM=started looking, but quotes at 8-10%insurance= 300 (est.)planning on ripping carpet out and going with vinyl hardwood throughout, new cabinets in kitchen and paint, fix lighting and general clean up. plan to get rents up to 500-550 month, lease term 1 year. interviewed PM and he said they take one month's rent for placing a tenant, is this typical?

I have a total of 10 people living in the place, whereas the leases show five. 

It depends entirely on how you manage your property, how often you inspect and whether you hold tenants responsible for damage during their lease.

I've given them the jacket of the property with all permits/leases/info of property history. 

Currently, I am looking at comps my realtor pulled for the area and using the average Lease Price Per Sq Ft.