Need advice, first deal

[Sam Compton]

Group,

I am hoping someone can give me some honest feedback on a potential deal that I am looking at. 

I am an aspiring investor who is looking to get into buy and hold rental property. I have a guy that is an old school landlord who is looking to downsize and unload a few properties. 

All 4 properties are sfr long term tenant occupied. From 6-13 yr tenants. All 4 are 3/1 900-1000 sqr ft. rent ready quality properties. At this point I have only seen a few pics of the inside of one of them from 4 yrs ago. Nothing recent. Quality was 6-7/10. He is promoting to me that the bones are good. (outside is meh, kinda ugly).

The total rents are 2500. He says they could higher but he decided not to raise since he had good tenants. Makes sense.

His first number was 220k. I believe he will come down more, but not sure how much. This is in 63111 the southern tip of STL city next to 63125 STL county if that helps.

Any and all feedback is appreciated.

[Bjorn Ahlblad]

Make sure all rents are actually being paid-use Estoppel Certs. Walk every unit with an inspector. Examine all the paperwork. Be thorough. Believe no one. Learn how to screen and your local LL tenant laws. I know nothing about STL. All the best!