I was in another market just like this 12+ years ago and all these same things were happening with unheard of appreciation. 

@Thomas MoranThis is not common but also not unheard of.

I don't understand why this handbook is seemingly unheard of. 

Newly updated 2 bed unit and price competitively but no laundry in the building which I think is definitely a downside but not unheard of for the area.

That's unheard of where I'm at (Northern Virginia).

It shouldn't take that long, but it's not unheard of.

205k for 11 units sounds unheard of, or maybe those were bought 10+ years ago ?

@Robert Squires 50/50 isn’t unheard of after a hurdle, typically IRR in the 13-17% range depending on a variety of factors.

It's not unheard of for a broker to quote excellent terms to get your business, and then once you get into the deal, you discover that they can't deliver on what they promised (not a good situation if you have a property under contract!). 

Read up on CAP rate before you put that on your cards, CAP rate is an indication of the market in a general area and is mostly used in commercial properties. a 60% CAP is unheard of and if it was it means it is extremely risky, a lower CAP means a steadier return on investment and less risk. and even a ROI of 60% seems too good to be true. are you guaranteeing a return to the investor ?