Send in a ton of paper work FEIN, rent rolls for SFS, 3 years of tax returns, 24 lease agreements, contract, p&l on complex, I gave them a 5 year plan of expected rent increase vs expenses.Scheduled walk thru- Due diligence time.

And, expect to pay going market value for rentals. 

First time attending such meet, not sure what I will be expecting but will great opportunity to network with other local investors.

@Jeremy M. this is plaster and I didn't check the walls at all, but I expect to find some there.

Is this a red flag or should I just expect this in a C class neighborhood.

The property was a lot smaller than expected and needed more work than expected.  

One valuable lesson I've learned through out my negotiations so far is that I can expect anyone/everyone involved to attempt some variation of this, but that it's not productive to get angry at them for it. 

I realize that it could vary depending on the wording in the actual agreement but I would not expect a service contract to transfer to new management with the sale of the property.

But now I realize that while I was busy learning about analyzing the numbers and what to expect, I didn't learn about the LLC aspect!  

You can certainly find plenty of loans out there that can work on the scenario you described above but expectations might need to be a little different right now.