On the other hand, a themed rental may catch the eyes of some guests, so depending on your location it could work, such as if it's a historic town/destination. 

In my investment career, I've realized you don't have to catch every opportunity.

I probably annoyed the guy which is fine - if he's catching attitude over a simple request then he's not doing his sellers any favors.

If you don’t have health insurance and you catch covid and end up in the hospital, Can they take your rental properties from you as a form of payment?

If there is a piss smell or damage to the floors and doors, you can catch it early.

The bait hasn’t been touched, but the glue traps are catching something like 5 mice a week! 

,You'll catch a lot more bees with honey than vinegar.   

It's only 20 minutes from home so I could use it as a weekend getaway or even a place to escape the office and catch up on bigger work projects.

This catch-22 only applies to residential (1-4 unit) properties.Finally, to answer your question about who applies for the loan:1.

It could be true, but it’s just as likely there’s another reason the current owner is quite aware of, and you’ll find out the hard way if you buy it.By buying on could-be or pro-forma rents, you’re buying as if the seller had put in the work to raise the rents, without their actually having to do so.It’s a great deal for the seller if they can pull it off, much less so for you.In the best case scenario you’ve already paid top dollar and now have to work your tail off to “catch up” to your projections by raising rents as soon as possible (sometimes with negative consequences as you pointed out, Fan).In the worst case scenario you find out there was a reason rents were so low (e.g., significant deferred maintenance you hadn’t spotted on the inspection and that tenants were bugging the last owner about for years).