Rates of under 5% were unheard of until April 2010.

@Bryce RichardsIf you have adequate experience with new construction, then getting 100% purchase and vertical is not unheard of.  20% interest is ridiculous. 

They deduct 10% a year from most appliances ($7,500 furnace, $2,500 AC) 15% from carpeting ($1,000).It is not unheard of for older homes to have an ACV for these items close to $0.

In fact, a bounce rate of up to 10% is not unheard of.

A lot of my experience is in rehabbing/flipping residential properties, and a spread like this would be unheard of in that business.What am I missing here?  

To paraphrase, they don't want to run into a hotel/boarding house issue as they do not fund either of those types of properties and although that is almost unheard of in a condo, complex or apartment etc.

This is further compounded by the hot dry Texas heat and the concrete slab will absorb a good deal of the suns energy during the day (110 degrees in July is not unheard of).

Before the recession, that was unheard of.Many of those workers have left the State, and found Jobs at other Casinos in Pa., Florida, etc.

.- Finally, a property management fee of less then 7% is not unheard of but at the lower range for most areas.

Number 3, it only has 3 bedrooms, which is unheard of at that price-point and sq footage.