Just started out researching, have an opportunity in front of me.

[Nick Dunin]

So I just started researching real estate investing a week or so ago. Been reading a lot here, watching a lot of BP videos on youtube, spoke to several friends that are into real estate. One guy I know that is into rental properties I was speaking to him, asking him questions, and he is wanting to sell one of his properties to me. It's not listed, and he says hes not in a hurry to sell. It's about a mile away from my work. Its a single lot with 3 small 1br/1ba homes. He wants 160k for it, its fully rented and he gets $2k/mo in rent. He pays $65/mo in water and take care of lawn care which he says only takes 15 minutes. Tenants pay their own electric. One of the houses is totally renovated with new everything. I'm told it could be rented for more. Taxes are $1350/year for all 3 combined, and insurance is around $900 for all 3 combined. He's going to confirm exact insurance cost tomorrow.

This is an older guy that owns it, he's been in the rental game for a while, and isnt planning on getting out, he told me about another rental he's about to buy. I've known this guy for several years and have never had reason to doubt his word. But the natural skeptic in me is wondering why he would sell something that has such good cash flow. I asked him why he's selling it and he told me he wants to pay off some other debts. Help me out with this guys. What else should I be looking at or evaluating that I may not be at the moment. Im going to drive by the property tomorrow, weather permitting, but here's a picture of it from street view...

These pictures are a couple years old, found them from when they were listed for sale before, so there's probably some updates