Yes, this happens and naive sellers fall into this pit frequently & easily. 

As another datapoint, I frequently check the web traffic of the big players as a proxy of popularity, investor views, etc.  

So I feel 1% allows me to account for a little adjustment)Vacancy Rate = 11%Closing Costs = 2%Selling Costs = 6%Cleaning and Maintenance 0.8%Property Management = 11%Repairs = 8%CapEx = 12%Taxes = 1.2% (I tend to adjust this one frequently, but this is my default)Insurance = 0.5%Other Expenses = 0.1% (my flex money as a "just in case")Initial Renovation Costs = $500

After buying - by chance - a 'high cash-flow' apartment as first property in Malta, my husband and I realised that Real Estate Investing could help us reach our goals: financial, geographical & time freedom.We are already working online, allowing us to travel frequently for long periods of time.

Typically we get 35-55 attendees including a number who frequent BP.  

And Instagram may potentially help determine how frequently they throw parties that get out of hand.

This scale property doesn't get listed in our MLS too frequently, so I'm naturally excited to see if it's much of a deal.

I know many real estate agents who always tell me about people who frequently buy properties from them as investment properties, and it just adds fuel to the fire.

Maybe I was assuming it was the same across the board, but at my bank the residential mortgage lender I frequently worked with repeatedly stated  we do not a have minimum we lend.  

LoopnetResearch local brokers and see if they have email lists you can sign up for, if not frequent their sites.