I have noticed that buying in the historical district of Oregon City can have it's challenges. 

Great response and i'm very happy that my first post has received such a knowledgeable veterans inputTo answer your last question of would it be really shady that it's so far below market - what i'm noticing is that they are giving me pro forma numbers (best case scenario) to make the place look like a good deal, and my concern is that if the rents were too far below that, there may be a reason that they are hiding for it.

Pay attention to rents, condition, price, what sells fast, what sits, what price drops, ect.You won't notice it at first but after awhile you will internalize the data. 

Most of the time you will need to place the other party on notice that they are in breach of the agreement, and you would like to terminate for cause.

If single family, you can put down as little as 15% with a Fannie/Freddie loan. 

I didn't notice the cost because of auto billing by power company until I sold the property and the buyer had a difficult time getting power switched over to their account.

After you take ownership post a notice of inspection.

I noticed that deficiency judgements on purchase money owner occ only came into play in 09...

Fannie/Freddie, owner occupied loans include an occupancy disclosure that states you will occupy the property within 60 days.

The seller of my unit was one of the board members and was well aware.Fast forward to now:  I recently got a notice from the HOA that a probable special assessment will be coming to each homeowner to pay for the foundation repairs for these units.