And cost is not coming down.

You can also assess a dollar amount that you value the cost of these requests to be, and ask for these as a discount from the purchase price or a concession to you for closing costs. 

So a room used for laundry that is 100 sq ft (quite common) costs the owner about $72,000 over the course of a decade (in today's dollars). 

If you are raising money in a syndication raising less than $1M can be challenging due to the setup and ongoing costs to manage and run it.

I've seen the actual cost to be around 15%-20%.

Sometimes the closing costs from the auction are HIGHER than expected.

EDUCATE YOURSELF - yes, it will take time, but will lead to a selection that better meets your expectations & avoids potentially costly surprises!

(MTM leases should cost more than yearly leases.)

Hre are the key things to knowWhat you are bidding on - often oddball properties that are hard to identify and have little value are auctioned offThe true as is value of the property, The tax assessment can be way higher or way lower than the true as is valueThe local laws and how they affet your total costs and returns

I highly recommend you study this, practice it, and apply it.https://www.biggerpockets.com/blog/rental-property-cash-flow...Property Details:Type: Single-family homePurchase Price: $289,900Down Payment: 20% ($57,980)Loan Amount: $231,920Interest Rate: 6.85%Loan Term: 30 yearsMonthly Mortgage Payment:Using a mortgage calculator, your principal and interest will cost $1,515 per monthRental Income:Average Rent for Single-Family Home: $2,171 per monthOperating Expenses:Property Taxes: $300 per monthInsurance: $100 per monthMaintenance and Repairs: Budgeting 5% of rental income ($109 per month)Vacancy Rate: Assuming 5% vacancy ($109 per month)Property Management Fees: If outsourced, typically 10% of rental income ($217 per month)Total Monthly Expenses:Operating Expenses: $835Mortgage Payment: $1,515Total Expenses: $2,350Net Monthly Cash Flow:Rental Income: $2,171Total Expenses: $2,350Net Cash Flow: -$179 per monthConclusion:In this scenario, the rental income of $2,171 per month does not fully cover the total monthly expenses of $2,350, resulting in a negative cash flow of $179.