Suspicious 

The property should be functional when delivered, so I would be suspicious of a tenant that had a non-stop list of items that needed repair.

If stray dogs are running the streets, there's trash and furniture out on the curbside, and suspicious looking characters loitering around up to no good, it's probably not a neighborhood you want to invest in. 

Will it look suspicious if we change the basis this year for the sale compared to the basis we have used to calculate depreiciation for the past 4 years?

I’d be suspicious

I forgot to mention - I emailed RentPrep in advance that I was suspicious that the previous landlord's info was fake and asked if they could verify ownership. 

I wouldn't be nearly as suspicious, just grateful and excited.

The prop is renovated with all other tenants under 6 months,  I am suspicious of the projected expenses because  Assuming notOnwer occupied - expenses are 18% of Gross Income. 

Do good deals like this really happen or should I start being suspicious?

That sounded a little suspicious to me and it got me thinking about the process.