I talked to rep, then searched a lot online curious on how it will work in very average not newly rehabbed places and saw a PM in mid-west posting the results.

Market fluctuations, maintenance costs, and the complexities of managing tenants are aspects that require careful consideration and planning.

I am new to the community, working on acquiring my first small multi family property, likely through syndication depending on the scale of the property and associated costs.

You can also bill them for the additional costs for leasing agent, listing, etc if you have any of those. 

They're offering the full asking price with a $1k escrow deposit, and they're also requesting $10k for closing costs.

The best quote I’ve  gotten back is 7.25% 30yr, closing cost 5k, 25% DP requirement, 5 year Prepayment penalty.

I also have the ability to take a $50k loan that would cover my closing costs.

My realtor/PM says $0.95 to $1.05 per sq. ft. is a reasonable monthly rent for a 4 BR/2 BA property in that area, which (according to the BiggerPockets calculator estimate I did) is enough to cover the monthly payment plus the above costs I mentioned.I anticipate putting down my deposit and earnest money in the next few days. 

However, the intrinsic cost of this "sweetheart deal" is dealing with a small bank underwrite.

Costs nothing to set up and it doesn't go on your credit report.