He or she could claim you broke something, took something, allowed her to take something that wasn't hers, or all sorts of non-sense.

When you get the list of expenses from the agent before you make an offer is it pro forma numbers or all verified income and expenses from things like bank statements, tax returns, utility bills, maintenance records, vendor agreements and stuff like that?

#2 (or all the intermediate ones in your example of 10) are encumbered.

If a life changes occurs one of the siblings will want to sell or it might be 2 or all 3.

In many structures, the investor benefits from depreciation that offsets some or all of the income (which creates a temporary tax shelter). 

Most buyers want you to pay some or all of their closing costs, another 3%.

Depending on your financial support system you may be able to close on deals in one or all of the above mentioned.

Numbers sound very good as others have said.This place easily meets the 2% rule (as long as the repairs aren't very high) and the cash flow looks great with the 50% rule.You do need to do the proper due diligence on things like the utilities to get a better feel for the exact expenses and put in adequate factors in for vacancy, repairs and capital and of course management.

But other than that, they are only somewhat inadequate at what they do.

Most buyer agent agreements require you to split your commissions with your agent but they also typically pick up most or all of your business expenses.