How do you read this deal?

[Gary Mandala]

Hi All-

I see a property on the market and want your opinion on it:

1) 1980 built, Duplex , 3 bed 1 bath each. 

2) Sale Price $320k County Appraisal value is $206k

3) Leased for Adult care until 2023 with $2500/month for both units

Questions:

1) Does it makes sense to buy a property higher than CAD value?

2) What could be the Gotchas in this offer?

Appreciate your thoughts!

Thanks

Gary