MF worth half of the asking price?

[Diane G.]

I read a couple of really good thread on this topic but can't find them now...Sorry starting a new thread here just so we can continue the discussion..

In the last 2-3 months of looking at MF, I noticed that MF listings ROUTINELY overstate the rent by 20% in addition to showing no vacancy/eviction/turn over etc.... I think you would be lucky if you end up getting 70% of the proforma rent.... On the expenses side, same thing, understatement of expenses.... Adding all things up, I ROUTINELY get to the conclusion that the listing is really worth about half of the asking price...

Now I have to imagine that this is how MF selling/buying always is....So my question is, is it common practice to offer half ish of the asking price?