Typically, you'll pay more and get a little lower split right off the bat, but like so many people say on BP - 50% of a deal is much more than 100% of nothing. 

Loan Info: Owner is carrying note for $285,000 and I'm putting 50K down. 15 year loan @ 4.35% -- W/Tax, ins, ect -- my payment is @ $2150/MO.The 2 BD/1BR's rent for $600 for upper and $500 for lower (although they are the exact same layouts).

It is already priced lower than similar homes in that area.

There has to be a number of re-allocations or typically transactions that involved flipping or common turnover in order to get to that point.

A typical financed transaction takes 30 days.

This is exciting because I've been thinking about the same thing but more for eco-friendly, modern dwellings for lower income families.

Real estate is one of the last great free-market environments. everything is negotiable, and some providers are better than others, meaning they offer more complete/sophisticated service and response, wider marketing exposure, etc.I compete routinely against both higher than 5% and lower than 10% management rates and anywhere from one month's rent for a leasing fee, to half that. 

Do people buy or sell real estate in India at real market value without illegitimate cash transactions?

It simply means the seller isn't going to do any repairs, which is probably 95% of all transactions.  

I make my living on working with more affluent individuals who want to trade equity for ease of transaction.