However, it is not uncommon for investors to buy a leasehold property as an investment - obviously the numbers need to work for them to recapture their initial investment as well as offer a satisfactory ROI.  

I suspect they are using someone else's identity or hiding something negative from their landlord.It is not uncommon for people to have good credit but still have an eviction or other problems with a previous landlord.

@Ralph Hunter I have seen those concrete ones and I love them, but I'm not entirely sure if tenants would like them since they are uncommon in my area.

It is not uncommon that some properties don't CF until 5 years down the road. 

If they have un-common names you may get lucky. 

@Tim Bee it's not uncommon in a property management agreement for the management company to keep late fees or to split them.

this is not at all uncommon. 

But also the uncommon expenses that you may overlook, such as auto mileage, BP membership, etc.

It's called  "Uncommon Entrepreneurs". 

It isn't uncommon to need 18-24 months to fully reposition an asset.Fins out what terms you are getting, and see if the debt works in your underwriting.