Over 20 rural SFR for sale - worth it?

[Mikhail Petrenko]

I am discussing a deal with one semi-retired landlord. He is willing to sell over 20 rural houses.

I want to propose owner-financing.

PRO:

- almost all houses have long-term tenants in place (some stay 7-10 years)

- houses are in decent shape

- great NOI

CON:

- all houses are in different rural cities and areas, for example, two 3/1 in Ft Scott, KS, one 2/1 in Ontario, OR, 4/2 and 2/1 in Miles City, MT, two 3/2 in Bismarck, ND, etc.

- it will be a nightmare to manage all of them, find handymen etc

-----

I think I can buy them for $150k downpayment and $450k paid partially within 5 years

NOI is $71000 for 2019.

Is it worth it?