It may help lower the cash requirement as closing if it can be negotiated that the seller pay all of the non-lender closing costs and then the maximum amount of closing cost contribution toward the lender's closing costs allowed by the lender.

They have re-strucutred their fees since I joined, and I thinks its a lower entry point now.

A company (or investor) that defers maintenance to hold down costs and charges lower property management and thereby offering fewer services, may see a higher ratio than 50% of the rents going to costs. 

If it is obvious then a good appraiser should see it and adjust comps accordingly. you could also use this as a reason to lower the sale price, but be careful, if you try to renegotiate the seller has the right to walk away at that point also.

Probably closer to 60-65k These houses are in the lower end.

However, when you add PM and CapEx savings to the Operating expenses it drops your NOI tremendously and then when you multiply it by the Cap Rate you get a much lower valuation of the property than the listing price. 

Those in the lower price points are production oriented they do the same cut and paste from previous projects on various elements. 

That's partially because our Airbnb prices are a little lower on average -- because they are integrated with our pricing software Wheelhouse, we time discount prices. 

As such, I agree that the maintenance costs could be much lower.

Here's a simple rent receipt book on Amazon with carbon copy.