No special favors, discounts, mini fridges, fee waivers, nothing. 

This either implies there are significant barriers making it difficult to replicate this opportunity or is being acquired at a significant discount, which is it?

Is this a buy and hold and wait for appreciation or am I getting this at a significant discount with good amount of equity from day one?

Typically, the more and/or the earlier you pay, the higher your discount will be.

Typically a 20-30% discount on the property after it's all said and done.

Appraisal came in low because there are few multifamily comps and they all sell at massive discount because they were never updated and need total overhauls. 

I know because I have one of my appraisers do appraisals on some of my high value homes in order to sell the house at a "discount."

Our last purchase in the fund was a newly constructed 98 unit Built-to-Rent community with room for an additional 120 units, that we were able to get at a 6% cap rate (a significant discount to the market).Hope to buy a few more deals similar to this one in the fund. 

Hope you got a discount on the purchase price due to the tenant past due balance and didn't get suckered into paying full price just because it has an S8 tenant:(You may also want to push your PMC to send the eviction paperwork to the S8 caseworker, so hopefully, they take away this tenant's voucher!

It increases the value of the home, good to show to insurance company (for Evidence, insurance discounts, etc) And it’s good against squatters.