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Updated about 8 years ago,
Purchasing Rental Property
I am going into my first purchase. I have found a woman who is trying to sell all of her rentals. She is older and her husband used to manage them but he's too sick to keep the properties up. I have two concerns however.
First, two of the properties are on the same lot. When I search for the address on one of the properties on all of the housing websites, it shows up nowhere. Ironically, the house gets mail and the same tenant has been there for years.
My second concern is in regards to writing up the contract. Because of this bulk purchase and the fact that all need work, she is giving a sizable discount. I would prefer to write up one contract with all of the properties and list one price to not alarm the seller of how cheap each property is being sold. They have agreed to the overall price though. Is that possible? Or should I write a separate contract for each property?