What is a fair/typical % to apply as credit toward purchase price?

You will see that there are short periods of depreciation (typically less than 5 years) but in general the chart will show ever increasing RE prices.  5) Do not fully discount equity pay down. 

That is because commercial leases are typically negotiated for much longer terms, often with renewal options. 

I will sometimes set my hand next to the damage to show size.On a typical 3bed/2bath/2car home I will take around 200 pictures, depending on condition.

Before tax reform, you could deduct interest on HELCO loan no matter how you used the fund. ( for eg you could use that money for rental or personal expenses )For example, interest on a home equity loan used to build an addition to an existing home is typically deductible, while interest on the same loan used to pay personal living expenses—such as credit card debts—is not.Using the loan for a Rental activity does not qualify for interest deduction in your Schedule A as an itemized deduction.  

My partners and I are looking to expand into this market of flipping and I would like to know what types of construction/general maitnance issues are typical for this location? 

It’s typically pretty difficult to “drive for dollars” in OC.

Typically the standard realtor contracs are written to reflect local customs and laws

We typically work at the same time. 

It's extra work/headache for a potential buyer down the road if they ever want to refinance or sell plus it could be a potentially higher interest rate and down payment requirements so this in turn should make the market price lower than typical condo prices but shouldn't be a deal killer as there are plenty of community banks to shop around.