In Texas, I can file a Memorandum of Contract on the property for two hours of an attorney's time and a filing fee and the seller won't be able to get clear title from a title company down the road. 

I suspect its because one bedroom is small, but to most students that didn't matter, as it is more than sufficient for a full size bed and a desk.

I have a client who may be looking to sell a 6X unit and a 80 unit building, both located in MN.

That can happen in a hot market, or it can happen in a crashed market, and any and all points in between, and a true investor will be willing and able to pull the trigger on such a deal at any time and any market condition.

As to vent cleaning, it's quite possible it is something that has to be urgently done, as many owners don't consider it a priority, and a fire inspection could've mandated it.

Interesting article linked below, and a cautionary one for anyone who considers buying debt in natural disaster areas where the home's value is lower than the debt.

Marketing your property and conducting a thorough screening will help to ensure you have leads and a new responsible tenant.

@Scott GrahamA SFR or single unit property is 85% LTV and a MFR is 75% LTV for an investment property with conventional. 

@Mark SpritzAs @Dmitriy Fomichenko pointed out, there is a big difference between a custodian who must hold the assets of an IRA (and will charge fees for doing so even if you have an LLC) and a bank account that you open for your 401k trust.

Which means the lender doing the 20% down payment will have a second, with no equity, and a borrower with no skin in the game (which means a giant risk for them).