Often they like to ultimately buy their properties and will pay over market value so they don’t have to uproot the established program to stay in the home they’ve been renting.

If Allstate is not offering proper coverage (stress the if) and you can get proper coverage in the surplus lines market you would want to do that. 

.; and capital to pay for options, marketing, legal counsel, accounting, tax advise, etc.  

I would just be careful hopping back in now as interest rates and low inventory are making it very difficult if you aren't finding your own off-market options to buy.

Record-breaking high prices in the upper end of the market skewing the entire market upward?

Lol.They have decent deals from time to time, but they are usually volume based, not in tune with market, and more motivated to push a sale than to really see if a deal is good or not.

I am trying to figure out what to do with this property and would love to hear your thoughts or ideas around this.The rent is below market but the apartments arent updated.Options:-We could keep the property and make the repairs, but would be at a loss for a couple years until rent covers expenses.

This allocation should be based on the fair market value of each component, typically determined through an appraisal or the values agreed upon in the purchase agreement.

I wanted to help them out and minimize their loss and saw an opportunity to get a property slightly below market because of my commission savings, immediate mortgage and maintenance relief, in addition to keeping a lower short term interest rate How did you find this deal and how did you negotiate it?

The only two ways to rectify this are (1) purchase the property far below market price or (2) significantly increase the property net income usually through some method of “repositioning”.