Sadly...this is very common in the industry especially with short sales.

@Darrell Shepherd makes a lot of great points.To really answer your question you need to see what is common in the market you are working.Some guys will still want a certain discount (which may be 70% but might be less) or they want a certain return or are just looking for a target cash flow.I know I would always want to buy at as big of a discount as possible, but on my rentals if I get the return and cash flow I need I will consider it even if it is relatively close to retail.

Common at apartment complexes, covered of open parking.I'd say leaving a '65 Goat in some distant garage would be deemed as classic car abuse....LOL

We provide each bedroom with their own keyed knob in addition to a shared key for the front/back common door to the full unit.We do this strategy all the time and get way more than most managers in our town.

From your profile description it sounds like we have a lot in common from a property type standpoint.

Im not saying it doesnt happen but Its not common practice to use a directional boring machine on a gravity sewer.

I think that's common though, even with local people.

Is that common?

However, buying $35K rental properties in cities like Buffalo or Dayton or Scranton or Barstow is fraught with potential pitfalls.

Rehabbing properties can be expensive and full of pitfalls.