Single family rental

[Domenic D'Aurora]

Hi guys, my name is Domenic. I'm 23 and have a opportunity in front of me with a single family home. Currently this house is being used as a rental (2 bedroom,1 bath & finished basement). The owners originally lived there paying $1600 a month in mortgage payments until they decided to refinance and upgrade to a bigger house. Their payments went up to $2000 a month and have been renting it out for a couple years now for $2100 a month. They want to get rid of it and sell it for $300,000. It has potential foundation issues and tends to flood the basement when heavy rain comes. Just want to get some opinions. I know the owners personally and they would be more than happy to sell it to me. House doesn't need too much work just some paint and some minor touch ups. They haven't been able to make good money off it so they want to get it off their hands. Any potential concerns I should be looking at or questions I should be asking?