Another option is a revised Tenant-in-Common agreement, outlining property management, expense sharing, and a potential buy-out provision in the future under specific conditions.

Is this common place?

A lot of people are still worried because of rates and uncertainty and generally would advise against buying anything now but with REI, if you can do it and it makes sense financially make it happen now rather than later and possibly miss out on it completely. 

Lot's in common brother!

It may make sense to "overpay" for a property that won't cash flow initially if you know that the value of that property will skyrocket in a couple years (say, because Amazon is building its new headquarters a bus stop away, or you're a geologist who knows there's probably oil under that grass).

Hope this makes sense.

** See rental posting here: https://www.furnishedfinder.com/property/663256_1/locWhat I thought was going to be a manageable renovation experience turned out to be an all too common nightmare with our contractor.

@Dieter Best  What you are talking about is a Ratio Utility Billing System (commonly known as a RUBS program) is a method for allocating billed utility expenses to residents of a multifamily.

Hey Neisa - in all honesty, it's not that common to hire a inspector to walk a property before you are actually under contract.

It is a common mistake that I see often, so I don't fault you for it.