I recently came across a couple who inherited 14 rental houses and they just don't want to deal with all of them. They are trying to off load 8 right now, and they are currently under contract with another buyer, but he is having trouble getting the money they are asking. They said he has till the end of August, and at that point I can buy them.

They are asking $150,000 for all 8 properties (single family homes) which are on the same road, and all 8 are currently rented for $400 to $500. 3 houses are in need of renovation, and they said there is 1 tenant they currently always struggle getting rent from.

Despite the issues, to me, it seems like a really good deal. But I'm wondering if a bank would even approve me for 8 mortgages. I do not currently own any rental properties, and I have a single mortgage now for my own house.

Anyone care to comment about my chances of these mortgages going through before I even waste my time at a bank and take a hit on my credit score for a mortgage inquiry?

Thanks.