On occasion, I have also asked for last month's rent if a potential tenant looks good, but is moving in from out of state and has not secured a job yet.And, while I think first month's rent and security equal to first month's is pretty typical, I'm sure there are some areas where local customs can also demand last month's rent and/or a higher or lower security deposit.In my current city of NOLA, some of the big apartment complexes will run "move in" specials. 

I think they do a fair share of easy ones but on occasion they get one with several refis, liens, etc...that may take some time.

you have to ask yourself why would a seller in todays RED HOT multifamily market hand you a building with zero skin in the game and a huge mortgage. i have seen these happen here in the bay area on occasion and its almost ALWAYS for tax reasons. they dont want the huge CAP gains hit so they will finance over 10-15 year terms.

Steve doesn't have much love for me, and has given me a mouth-fool on an occasion.

May I ask you additional questions on occasion? 

@Scott T.Having dealt with this on occasion with non performing land contract holders - in most states a property cannot be listed for sale by an agent by an individual who does not hold title.

I have the occasion of purchasing a multi unit at the beach, it is 3 unit with 1 bedroom and 1 bath each and an "owner" apartment with 3-4 bedrooms on one level with water views.the rentals are $ 650 x2 and 1 x $700.on the owner unit I figured around $ 1500 per month ( September thru May ) and $ 1500/week from June 24th to August 30th.based on the numbers given above I figured a starting bid of $395,000, does anybody agree with this starting bid?

Some think it is a waste, but it has saved us on 2 separate occasions and actually made us money on one. 

We have dealt with him directly only a few occasions, but have found him to be very knowledgeable and competent.

Perhaps he just likes to add a bit of drama to the occasion.