Buying a bunch of rentals, for my first deal!

[Dawn-Marie Black]

I have a situation where a landlord is wanting to get out of the business, and I could pick up 7 houses for really cheap. I've run the numbers on the calculators here and there's money to be made. The biggest set back is these houses are pretty sad. They need a lot of repairs. I've accounted for that in my numbers and still come out doing decently. SO here's my questions - Am I completely stupid to take on 7 rentals as a complete newbie here? Is is possible to do any work on these houses while they're occupied? I don't want to lose the current tenants, that have rented for 4-7 years. Any thoughts/advice are greatly appreciated!

[Arlan Potter]

if they are cheap, buy them. Long term tenants are a plus.  I would not do major interior upgrades with tenants living there. Exterior paint, roofing and curb appeal is fine.  

Don't do anything to disturb lead paint with tenants residing.  

Buy them, collect and stock up on the rental income, and rehab them if any ever move out.