of course be pragmatic and consider turnover cost, and don't be penny smart and dollar foolish....but don't just start willy nilly handing out blanket discounts....you need the capable ones to cover the incapable, and if you start blatantly discounting across the board, why wouldn't you reward the good payers too?

This is a clear breach of fiduciary duty and blatant negligence. 

It's not so much a pros/cons list as it is evaluating the risk of this specific deal.Potential risks include tenants paying below market rent, tenants on a lease agreement that doesn't protect you as fully as it should, not adequate screening (or worse, blatantly lowered screening standards to fill doors and sell the property at 100% occupancy), tenants not current on their rent, etc.There are ways to find out about those risks and sometimes even mitigate them before you buy.

Should I just blatantly let the home owner know I want to buy the house?

Both cases are basically to provide perspective TK clients inflated COC numbers (one is much more blatant than the other).Good luck

Any considerations that i am blatantly missing? 

Not doing so would be blatant malpractice. in fact its very concerning that you would want to hide anything from a potential buyer.

When I asked my client why they removed it, they blatantly told me that they never agreed to leave it (a lie), that they would not be replacing it and that they left the cheaper ADT system in place (for whatever reason, they had two systems).  

I'd trust an agent over rentometer, but if I am incapable of finding any property near what the agent claims similar properties are renting for, I don't know how to resolve such a blatant disparity in the numbers.How can we tell whether 1) the agent is correct and it is somehow a fluke that everything else implies a far higher number or 2) the agent is making an inaccurate estimate and the rent shoulder be much higher.

The lender has the right to do anything from calling the note due, levy fines, and/or in some extreme cases for blatant defrauders, they can prosecute.Hope that helps, TYFYS and best of luck!