That is perfectly legal.But the walk away money.. the lunch money the you pass on this one and I will pass on the next one that is collusion and bid rigging as you point out.locals can be pretty snarky protecting their turf don't kid yourself.

Sounds like a great, picture perfect deal.

Maybe he's a guy that hasn't done this in a while and has just been sitting back like a sniper for a while trying to find that perfect deal and he somehow landed it under contract.

The Seller says the tenants have a perfect tract record of paying rent.

I am always available to help you in your search for the perfect property based on your investment needs, everything from long term "Buy+Hold" investments, to quick "Fix & Flip" strategies.

You are in a perfect position (aka prior to kids) to take the plunge, but at the same time it turns out my true motivation came when we had my first child!

Remember this recent quote I just heard "Imperfect action is better than perfect planning".

they will buy it for 100,000   now many investors would think that is not a good deal and would not buy the same property unless it was 1.5 or 2% rule  ( BP rules)  and would think who ever bought with the 1% was over payingMatter of perspectiveAlso if you take WEst coast and what I imagine is Prime East coast... break even cash flow is perfectly acceptable as your really just counting on your tenant paying your mortgage off for you and you have the anticipation that at the end of 15 to 20 years the asset might have doubled or more in value. 

I currently own two massage studios in the  Atlanta area.  

You must have done some perfect 1031's.