It is typical, but my guess is that they want to be sure you have no "undesirable" criminal offenses; selling drugs, murder and the like, and also to be sure that you can afford the regular HOA fees.  

Now let's say 10 shown up and none of then like the place but track mud and dirt in so you need to clean it up and start over.Joe Gore

Now, that I have spoken with my buyer, I know that he would buy this property at 70% even though it is an undesirable 2/1.

I pretty much us this strategy to tell some these sellers that they are dreaming in a professional way lollolhttp://www.biggerpockets.com/blogs/4977/blog_posts/36698-if-you-throw-enough-mud-on-a-brick-wall-eventually-some-will-stickThanks for reading and have a great day.

Purchasing an undesirable property because it's "a good deal," which leads to attracting people that have no respect for your property.2.

I tend to get a lot of mud thrown my way from that particular user.

What about mudded and sanded a couple times to get it ready for paint?

And screws, tape, mud, shims, and corners for the drywall.

Dana Chun they owe you $7,200.I would also read the leases carefully as you don't know what other undesirable terms are hidden in it.It's not an uncommon trick in multifamily properties for the seller to cut sweet deals to some tenants just before the sale.

Many of us have also been in your situation, having a few surprises after purchase and some undesirable tenants.