In most cases we are seeing monthly STR cash flow at 1-2% of purchase price, which is fairly unheard of in most areas, now.

Still a great deal for us.. 200k of equity ( all but unheard of these days).. and IRS plucked 100k more without having to pay us off take over the house etc.I See IRS only coming into the picture if its high profile   IE Willy Nelson or Extremely high equity and we probably won't have swings at those anyways.

In order to secure a developer's fee you would need to do another round of tax credits (syndication) which is not unheard of, but generally only makes sense if the property needs substantial improvements.

It was a unique property with a basement which is unheard of in Arizona.

Benefit of doubt to tell the truth is unheard of for many. 

I'm aware of the risks and have helped friends pull of various arbitrage schemes in the days where the rates were 0 and transaction fees were unheard of.

That's a weird strategy but not one thats unheard of. 

For less quality companies, in my experience it is even less common or unheard off.

Realistically, cash flowing with an FHA loan is pretty unheard of in the DMV.

It's a little odd that a deed hasn't been recorded in that time period, but not unheard of by any means.If the foreclosure auction was that long ago (2012) and the bank is sitting on it there may be something unusual going on.