In addition to the location, there are two more components: the tenant segment and the property.

@Jacob Knowles the vacancy costs are detrimental every time we try to run numbers we can't get around this.

Thanks for the advice Tim, and I would agree for the most part about not quitting your job but I didn't quit my job to go full time I was laid off... for me I choose that to be an opportunity rather than a detriment. 

I am exploring MF investing for a while, and this deal has all possible components of MF investing.

No it would not be beneficial to be an agent, it might actually be detrimental as you would be expected to know and disclose many items a normal seller would not be expected to know and disclose.

Could there be a escrow component of the  payment in there that is skewing things? 

The only real way to know all the lead components would be having a lead inspection and there are companies that specialize in this here (not sure about by you)For a rental you have to be more careful on lead because you need a certificate.

When it comes to cost segregation and bonus depreciation, the age of the property does matter somewhat, because there is calculation made between the 'real useful life' of those components as compared with the 'tax useful life'.

Spill the beans. don't know but what if there has been a 30k rehab done to it.. we see this all the time  you have a home that has been lived in for 20  to 30 years all the components are that old and ya I guess that sells for like you said a  35k price and its serviceable .but then you have a flipper rehabber buy it and do a top to bottom rehab for 20 to 25k  then sell and make 10 to 15k on it like all flippers do.. maybe that's what happening here..  

Next- is the Reality Is that all Condo Properties are "encumbered" as components of the Condo Association, Thats Ok- as long as the Association is in Healthy shape financially .This too has to be verified.