It could be 50% high, 50% low or right on the money but no matter which of those three it is makes no difference.

If it's a larger organization, feel free to inquire about their different staff qualifications.2.

Just like the asking price, just because the owner suggests one interest rate or term doesn't mean you can't offer something different. 

I currently own 4 rentals in different states and looking to buy more.

You will find that every PML has a different business model.  

Different states and municipalities have different rules so it would be good to brush up on them if this continues.

Your diligence can make all the difference in ensuring safe and successful investments.

I started and did it differently.

Inherently the steps are the same as if you were purchasing with financing save potentially less closing costs and ability to close sooner (if needed).The terms of your offer (ie -contingencies, closing cost splits etc) will determine what is different. 

You are effectively operating a hotel, which is a business enterprise with very different risks and hazards to insure.