New -- Help me rationalize!

[Adam McCurdy]

What is the purpose of a cash only sale by assigned contract? I have the opportunity to purchase a $200k property with 6 units that range from $400 - $700/mo.

House #1: 3 Bed 1 bath Rents for $700/month (needs paint and probably new carpet)
House #2: 2 Bed 1 bath Rents for $400/months ( needs no major work)
House #3: Large 3 Bed 1 Bath Rents for $850/month (needs no major work)
Tri Plex. Unit1: 1 bed 1 bath Rents for $390/Month
Unit2: 2 or 3 bed 1 bath Rent's for $450/Month
Unit3: 1 bed 1 bath Rents for $400/Month

This screams great deal to me for some reason. I've looked a them and for what they rent for, there wouldn't be too much work that is needed. What I worry about are the tenants that I would be catering to, if you know what I mean.

Someone try and talk me out of this deal!