Or is this common?

Talk to a few other banks. 20% down commercial loans are common.

One of the biggest things I'll note on the front end is lots of people don't bring in a tax professional until they own a few rentalsAnd then there may be errors related to the properties from setup-year that now need to be corrected. 

My question is this 2 of the bedrooms have a door separating them commonly known as a walk thru bedroom.

Use common sense.  

A common path is to start wholesaling, then do flipping, then buying rentals.

While this may be possible, it is NOT common place in this scenario.

It is likely that the Subfloor is a common element meaning that it is the Associations responsibility and their insurer. 

I'm not saying that's the law or anything, but it's common sense because you have no way to know what the unit looked like when the tenants moved in.I hear ya! 

@Joshua ArsenaultMany people who are CPA's that don't work on Pennsylvania / Philadelphia often miss out on some filings that can cost clients a lot.Philadelphia is a unique jurisdiction that has its own filing obligations.The NPT(Net Profits Tax) and BIRT(Business Income Receipts Tax).The above filing obligations are required but hopefully don't increase your tax burden.Also you mention, "partner and I", depending on how title is held(Tenants in common vs partnership/corp), a separate entity tax return may be required.Best of luck