I’d move on or have it gutted like @John Chapman says. 

So two solutions:Call John Sperling with Visio Lending (sorry I can't put a phone number in posts but just google him).  

Originally posted by @John Dombrowski:what type of loans are we talking about when we go to refi?

Jerry, Christine, John K , Jason & John S for your responses.

John D. - Be aware that the meetup that you mentioned above is a FOR PROFIT group that is run by a woman who refuses to allow any one with a license and any investors with any amount of experience to attend the meetings.  

@John Thedford  ya I saw the HUD one..

@John Jacobus hello, This is janet.

@John Whitridge  Are the typical tenants of the property going to be students?  

@John Leavelle when i am screening how do i know i cant just make a lower offer?

I'm more than happy to help out a fellow investor.Cheers,John