If appraisal done - will they take into account additional bedroom or they will discount value based on unpermitted room?

I attribute their willingness to sell at a 40% discount to their fear of what is happening with the virus.Many will say, "why buy when you can't collect rent now?" 

Basically what I am trying to say is when you are purchasing you are getting the discount on the buyside relative to what the market would pay.

We could just have each property have a different homeowners insurance company, but then we worry we may be missing out on potential discounts for bundling everything together. 

PS - I won't discount my places for longer stays, I don't want longer stays.....14 day max stay, no discount....

So I'm more likely to own that unit for 10 years and be able to realize the biggest benefit which is the value increase to the property when I no longer have to rent any of the units at a discount.

Seeing you mention the 30-40% below is a discount I have seen quite a few other investors citing as their requirement in this current market.

I have a different take than the previous postscould be profitable, not sure if it’s scalable.Are you thinking the seller will sell to you for a discount because they’ll be allowed to stay in the condo based on you paying the special assessment?  

Then factor in you holding costs, your opportunity cost, discount value of not having the cash now, etc. 

Just keep in mind, people don't always charge the headline rate as there are normally discounts on longer stays, etc.