The longest I've heard of here in the Northeast is 3 years. 8 years is unheard of.

Houses in the area are selling for 75K - 80K, and if I opt to hold the property, I could get $700-$800 in rent.Is it unheard of to take out a mortgage on a property for such a small amount with regard to investing?

So far, up speaking with the developer they are telling me that my costs may be around the 2 million dollar range which is unheard of (for me) and the area in which I want to build in.

@Ali Boone   not to get off target here I read your blog.. nicely done. and I think all markets run these risks. with the huge transfer of owner occ to permanent  rental status.One reason why TK companies to be relevant need to rehab to what would have been un heard of standards 10 years ago. one to attract investors with a pretty house kitchen and baths but attract tenants who in these cash flow markets are very transient and its nothing for them to move yearly..

There are several dozen of these transactions from this Rehabber in the last 2 years, It seemed strange to me how he was getting all these deals, if they are done through a realtor he must know quite a few, I was thinking he may have been clever to contact these people from the lis pendens and negotiate a short sale with the banks...... or is this kind of unheard of?

The K-1 piece is not unheard of private investments, but also not ideal.I do not have any experience with Holdfolio directly or through conversations.  

If you keep using leverage to buy more properties with negative cash flow, then pretty soon it won't matter how long the mortgage term is because you'll be belly up.I don't know anything about Alaska rentals, but is positive cash flow unheard of up there?

If the damage eclipses this threshold, the property must be rebuilt to today's zoning requirements.Lastly, while zoning requirements are requirements, it's not unheard of to receive a variance.

OTOH, problems in newly built houses aren't unheard of.

First the stem sticking up in the driveway has to be addressed ,  dumb things happen , its not unheard of having an oil company deliver to the wrong address and filling a basement with oil .