If market rent has dropped anyway, this may simply be aligning with reality.The real question is:Would you rather lock in a proven tenant slightly below market, or risk vacancy and an unknown replacement?

Many investors would rather know exactly how the deal will perform and close smoothly than chase marginal savings with unknowns attached.I also agree that when lenders and agents are aligned on structure, negotiations become much more strategic.

Usually, if someone is trying to unload a dog, you should expect a lot of issues...cosmetic, mechanical, structural, exterior surfaces, as well as Tenant issues, known or unknown.

The most common concern that I've heard about smart locks is around security and the perceived liability of tenants being locked out if power or technology fails, but I think it's more about the fear of the unknown for management teams that aren't yet keyless.  

Occupancy: One unit rented (~$1,100–$1,200), one unit currently vacantEstimated PITI: ~$1,500/monthWith both units rented at market, the property appears to slightly cash flowing depending on management and maintenance assumptions.My concerns are less about the deal “working” and more about timing + liquidity:• One vacant unit at acquisition• Older housing stock (systems unknown long-term)• ~$45K capital deployment• Out-of-state ownership for me• Limited immediate cash flow to replenish reservesI already own property in Georgia (in-state for me), so this would be an expansion market purchase rather than my first door.My questions for Cleveland / Midwest investors:1️⃣ How has appreciation trended specifically in 44109 for duplexes over the past 5–10 years?

At today’s rates that usually doesn’t leave much margin unless you’re buying it well below market and the rehab is light.The bigger red flags to me are the unknowns.

I feel as if she’s hiding her husband from the application for some unknown reason.

I think so many things in my life I "fear" or "avoid" simply because there is an element of unknown there, and that very quickly gets into a "failure" type space mentally for me. 

You need to hit a 20%+ spread on ARV after all costs just to account for the unknowns that always show up mid-rehab.Best performers right now are neighborhoods in the 35th-45th percentile price point, not the ultra-hot coastal areas or the super-affordable inland stuff.

Unknown = risk.