Not saying it's right but to feign shock is... well...

During this time run a title preliminary report to see if there arw any liens or judgments ties to the property, get pay off and reinstatement quotes so you can asses the deal and see what you are working with before negotiating a deal.

What you want from the Title company is a "Preliminary Title Report."

I was shocked to learn that but its the law there 

Seller is asking $189,000 for the property, although I'd be shocked if they were able to get that much for it.

The only example is when I bought a building with a bunch of low rents.The backers of this law really want to protect tenants in hyper inflating rental areas from shocks of their rent doubling. 

Your tenants would probably think you were commenting on their cleanliness AFTER they recovered from shock.  

I would be shocked if your listing agreement didn’t have this provision.

This is a basic preliminary analysis that I'm trying to drill down into.  

Thanks for the reply, I'm shocked at the mortgage rate as well, I was quoting for investment property as that's out of state, but both local bank and out of state bank quoted me roughly around the same rate of 5%, that's crazy high