You realtor may or may not be lying to you but It is not uncommon for banks to ask for highest and best offers.

Rent rates in my area are nowhere near what they are in yours, but it's not uncommon for me to have property tax increases of 20-25% in a year.

It's not uncommon for 20% overruns if you aren't careful.

There's no garage, which is a bummer in Wisconsin, but also not that uncommon.

Speaking as in Inspector and Investor, for small multifamily, it's not uncommon to run into this, simply to keep looky-lou's and tire kickers away.  

This is common not uncommon in real property and is not a cause for concern in and of itself.It does not mean expressly that title will be clouded.  

@Derek Martin although your situation is somewhat unique, it is not an uncommon concern for real estate investors who have multiple properties or projects going at one time, in one or more states and with multiple controlling entities. 

In the olden days it was not uncommon to throw everything into long-term bonds.

It is not uncommon for the sum of those parts to exceed the value of the home or exceed what the property may get at auction.

In other words, it is easier to find a 1% property in a war zone than it is in a stable working-class neighborhood.I would also say it is not uncommon for turn-key rentals to start out returning $200 or so cash flow.