It truly is sickening, to know that people are being sold over priced, under rehabbed properties in undesirable neighborhoods to newbie investors. 

It is typical, but my guess is that they want to be sure you have no "undesirable" criminal offenses; selling drugs, murder and the like, and also to be sure that you can afford the regular HOA fees.  

Now, that I have spoken with my buyer, I know that he would buy this property at 70% even though it is an undesirable 2/1.

Purchasing an undesirable property because it's "a good deal," which leads to attracting people that have no respect for your property.2.

Dana Chun they owe you $7,200.I would also read the leases carefully as you don't know what other undesirable terms are hidden in it.It's not an uncommon trick in multifamily properties for the seller to cut sweet deals to some tenants just before the sale.

Many of us have also been in your situation, having a few surprises after purchase and some undesirable tenants.

I was looking at housing in the area, but all the cheap stuff is of course in undesirable areas and probably not worth the risk.

If the developers and funds holding these companies did decide to drop prices to sell some inventory, it could have an undesirable effect on the market. 

That's not because I don't like high returns...I (along with most investors and tenants) don't like undesirable properties.

Also, the gas heat supplies the entire house and is not split by unit, so I would probably end up paying the entire heating bill (very undesirable for me).I am considering replacing the current gas heat with electric baseboard heat.