Possible good deal on 11 unit multi family. - questions for owner

[Wes Harrington]

Hi guys,

so I am looking into an 11 unit multi in my area.  its currently set up as an extended stay hotel/apartment.  its in a good area in regards to minimal crime, strong local university near by, steadily growing city (not exploding).  my wife and I have done 1 flip, 2 buy and holds and have really been wanting to move into the multi space. I would love to hear input from the community about specific questions to ask the owner/agent.  We will likely be borrowing private money for down payment as the seller is open to owner financing at this time.  here are the numbers:

11 units (1bd/1 bth).  With office room.  Fully furnished, wash/dry connections in most units, new flooring, metal room, brick construction. Units 550 sqft.

Price: $399,000

Occ: ~90%

Rent: $225-350/week depends on time of year

Gross in 2015: $150k

Down payment: $150k with seller financing beyond that.

So, what other questions would you have for the owner? With my due diligence what else should I look at (as I have only delt with SFR)? If there is anything else you need to know, I will let you know.

Thanks

Wes