Multiple Offers above asking price are quite common, especially for clean, move in ready homes located in good school districts. 

How are the common areas?

Many Lenders that offer 100% Financing are less than scrupulous, and this commonly considered a red flag if you see it offered.One thing you might consider: seeking an equity Investor interested in going in on a Joint Venture type of deal.

The most common structures I've seen are either pure debt offerings or preferred equity offerings where investors are paid a predetermined return before the sponsor receives any profit.  

A common gotcha here is governmental special districts that some believe are HOAs are actually governmental entities.

I think Dave Foster is about as expert as you are going to get here, and he basically says an extension is as common as a unicorn.

(This is common in this town.)

I let them know that I will likely have some questions on their numbers but after I do an initial analysis, if the deal still looks attractive I would request to view a few of the units in the property and do a general walk through of the exterior, utility areas and common areas.

A pitch man is going need some really good hype to sell to draw people in, it's most common that these gurus throw out spin on some aspect that is not fully disclosed, like half truths.

That's what I've seen most common. 2.