Got a Lead, What should I do? What would you do?

[Ethan Board]

Newbie here.

I got a lead on 4 sfh homes that are all 1 bed 1 bath homes. price is 75k for all 4. two of them rent for $400 and the other two rent for $450. 

Mortgage would be roughly $600 per month 

Rents would be $1700 per month

1. Do you think this is a good deal?

2. How would you pay or try to pay? (cash, finance, etc)

I've talked to current owner, he wants to get out of land lording and sell his properties.

Any advice would help! Thanks in advance!

[Todd Rasmussen]

@Ethan Board

Tired landlords often have ridden an aging portfolio into or at least near the ground. They get in a deteriorating property, deteriorating quality of tenant cycle and never recover. Off the bat those numbers look great, but if these are in a terrible neighborhood or need a bunch of work then it might be tighter than it appears at first glance.

If you think they are worth 75K, put in an offer with all the exceptions you need and go inspect and see what you're really in for. Once you have all the info you can renegotiate, close, and get your membership card.