Within the first week, we got two, identical cash offers for $400k.

. - the word "conditional" ;)You establish the conditions under which the release is to be executed; one condition is that your new buyer and the seller enter into an agreement identical to that which was originally in place (except for the name of purchaser of course), another condition being the amount of compensation of course. 

If the normal gross return in the area is 0.5%/m, then it IS a great deal (which would mean that the identical home next door sells for $219,000!)

Thats true Upen but its good to note that generally only the base or salary income can be used for qualification with out any waiting periods assuming the same industry.Using bonus/overtime/ auto reimbursement/commissions from a prior job will be hard to carry over unless it was a near identical position in the same industry like car sales man at chrysler to car sales man at a ford dealer or retail sales at AT&T to retail sales at Verizon Wireless.

We purchased it in 2012 for 305K and identical homes in the neighborhood have sold for 395-400K in the recent months.  

The unit they reside in is identical to the one directly above it.

Find out your investor identity then figure out to a plan to get you to the right investment for you!

One of the units' rents had just been raised to $1100/month, and all units were identical. 

Tonight, two popped up at about the same time and when I open the listings they are almost identical buildings, owned by the same person, and are each going for $165K.I'm considering making an offer on both duplexes and I was wondering if its an acceptable practice to ask the owner to consider giving me a discount for buying multiple properties from  him.

Thank God I didn't have 10 properties on this platform I suspect someone has stolen your identity and you haven't found out yet.