Thanks for your responses!
YTProphet - Other similar units in the building have sold in the mid 70s. The last unit sold (to my knowledge) sold for low 80s, but that had a very nice updated kitchen and bathroom. This one's priced at 67,900, 'priced to sell,' according to the bio. Based off the pictures (which, again, are a year and a half old), the wood floors are in good condition, it seems nicely painted, the appliances seem good (nothing fancy but I don't need fancy). Looking at comps in the same building and other buildings in the area, this seems fairly priced. Unless it's been completely trashed in the past year and half. Since it's been unoccupied, could Fannie Mae go in and strip the appliances and whatnot?
redbirdfan - I'm hoping there's no need to remodel. If the pictures show an accurate description, it seems move in ready (if anything, I might want to remove carpet in the bedroom, but I'll fight that battle if it comes to it). Otherwise it seems very nice. Reserves are good, they've made at least one major update in the past few years without increasing the maintenance fee. I've seen the rules and regulations of the building and they're all things I'm fine with (no dogs, cats are fine. One parking space. Can rent after a year of occupancy). I'm more concerned about Fannie Mae's involvement.