This is fairly common in college towns so I'd recommend verifying that before going off on a buying spree.

Is the lender a bank/credit union or hard/private money?

I wonder if they're listed on there but have been occupied for years, by tenants who moved in when the fair rent was less?

TIAIf you have an electronic record (bank statement, credit card, accounting software, etc) of the transaction the IRS doesn't require you to keep receipts unless it's a cash (took real paper money out of your pocket) transaction for $75 or more.

Also---you need to make sure whoever did the rehab did it correctly (no point in paying a premium price is the work isn't done correctly)...lastly if you pay for a turnkey property...how do you know the tenant is paying a market rent and is a good tenant (credit score wise, payment history wise) etc?

If you sign a lease with a nursery school teacher and CPA with credit scores of 800+ with a 3-year-old, what’s the likelihood that they will suddenly start cooking meth and destroying your property? 

@Steve Rozenberg Fair enough.

These can be further broken down into lender closing costs and third party closing costs.Thelender closing costs can include underwriting fee, processing fee, funding fee, origination fee, credit report fee, and tax service fee among others.

What is the ideal credit score lenders are looking for?

Is it fair to ask the tenant to cover a piece?