That said, let me offer some experiences that I have had that have helped me rationalize getting a steal:I bought a house at a steal for $11K.  

Look up the definition of the word "rationalization". 

The rest is decoration, and rationalization because the end results from all those "decoration" numbers end up forming the numbers with $$$ in front.The idea is to find micro-markets. 

Th legal fees will be $400-$800 I would guess, transfer taxes, title insurance, loan costs, misc junk fees, pro-rations of taxes paid in advance etc are all fess that can vary per deal.

Hi Gloria,Appraisers can suck to deal with, but if you have good alternative comps and a solid rational for why they are wrong you may have a chance.  

It's a lot easier to rationalize it to yourself when you have to pay a lot of money.Great question!

I find they are fickle at best, and are rarely met since most uses for them are to rationalize bad deals.I define a bad deal as one that doesn't meet my Cash Return Guidelines. 

It seems like you are asking a very rational question based on experience and it shows. 

The far simpler explanation is that the capital markets are somewhat efficient and rationally price the equity higher and thus the syndicator has to offer something close to attract the capital needed. 

I was just looking into my FHA loan today, I did 3.5% down on a 3 plex, and was told that my mortgage insurance would go away after 80% LTV ration.