If they are having you make PITI payments and the rent does not cover this and fees are the owners sending you checks?

I know nothing about real estate, and I dont have any close friends or relatives that really know much about real estate.

When it comes to utilities if you can not have them in the tenants name paying directly you are better off just raising the rent, plus some, to cover any anticipated costs and look into properly dividing the utilities with their own meters.

I would ask for actual numbers (gross revenue/net revenue) and see if it makes financial sense for you.You'll need insurance that covers vacation rentals which most carry now - just ask your current provider if they do or don't.Other costs:Registering the rental for the short-term license, Florida sales tax, and all county taxes.Will you be self-managing or hiring a manager?

Your price point is relatively safe from drastic changes in your taxes.

If you can take that 10k and somehow turn into a place to live with roomates that cover your expenses and put money in your pocket I would go for it. 

Her deposit covered most of her damages.

@Tyler Smith, I'm just reading through all the State College related blog posts and saw another from you.

Using the criteria of buying at 80% of the asking price ($159000) and using relatively conservative numbers when calculating my expenses I am looking at close to 400 dollars per month cash flow.

Perhaps she was friends or related to the previous owner.