What are everyone’s thoughts on purchasing properties with tenants in place currently paying below market rents?

3) Price is too high for prospect perception of property value--- Prospects are only willing to pay so much for what a property is.

I have the funds to out down 20% (about 100,000) but wouldn't it make more sense to let my tenant and equity pay for that?

My client is worth over a billion dollars.

If you gain interest on the deposit, then you must pay that interest out to the tenant each year which adds to complexity and workload.Any bank should work.

A couple commentors mention, pay a little more, get professional opinion.

How much do you pay for drywall guys to repair a wall or ceiling?

It may sound nice to pay a 6% management fee but the extra fees can add up to be more than the other company that charges 10% with no additional fees.

Ask if you could visit an active site and/or talk to a previous client.

So, they have barely an inkling of how to work with an investor to find "deals".Of course, most of the newbie investors don't know what a "deal" is either, with many of them willing to pay asking, or above asking prices.