Great Opportunity.... right??

[Andrew Miller]

Hi everyone,

I am in the process of finding my first investment property.  this is the first time ive posted in this forum.  So a lot of new!

I believe to have a great deal in front of me, especially for my first property, but need your help finding what questions to ask.  It's in Virginia Beach (ideal market for me), owned currently by a family friend/very successful real estate investor.  3br/2bath house, that has been lightly renovated (floors, cabinets, paint, cosmetic stuff), and will be sold to me for $200k.  Ceiling has about 10 yrs, new water heater.  There is an interested renter, who wants a lease to buy option, which I would probably do 3 years for option to buy at $245k.  Renter is a plumber/ handy person and wants to be able to do personal renovations.  

What questions or hesitations should I have?