First, as illustrated above the average as a mode or mean is likely not even a discounted loan if we were to group such things.  

There is no need to have any contact with the listing Broker and they will have no knowledge of your bid until it is acceptedI illustrated in my previous post how to reduce or forfeit a commissionI place a dozen or so bids a week and it can absolutely be done by the agent themselves and in no way violates HUD rules

I threw together a quick graphic to illustrate this:Alderwood Mall is unquestionably ground zero for much of the crime in the county, especially just to the west and south to the county line.

@Jennifer PereiraYour post above illustrates precisely why it is advisable to consult with an accountant and attorney and plan before purchasing your first rental.  

Just used 7% cap and 75% LTV for illustration (and assumed the rents would be increased to $1325 in the future).Total equity (later) left in property if refi now = $123,000 (using 7% cap).~$250/unit current increase on all 12 units = $36,000 current additional NOI / 7% cap = $514,000 x 75% LTV = $386,000 current cash out.Someone check my math...it's happy hour here...Need to determine if you have any loan prepayment penalties and other refi costs to add to the math above.

Ive never had to come out of my own pocket to pay for a roof, or an HVAC....all these things that cost massive amounts of money are paid for by the portfolio of properties.This is purely anecdotal, but it helps to illustrate my point.  

@Chad Urbshott That's a great story, and scary      Really illustrates why you should call code prior to sale     Not only to see if there's any outstanding issues but to see if permits have been pulled under the current owners name     This would be able to flush out any mechanics liens that may not have been listed yet with the courthouse  So I'm assuming you got this on the court steps    

Its a partnership scenario/illustration so ignore the returns.

Make a sample deal sheet (even if it already sold) and use that to illustrate why you'd buy the property, how you analyze it, your business plan for running it, etc. 

Add to the mix cheaper and faster construction methods and you have the beginnings of a bubble.The graph below illustrates Robert Shiller’s data.