Multiple Property Deal

[Brian Campbell]

I met with another investor who wants to sell 16 rental houses. He's 62, has a house in Florida and wants to get rid of his properties and move. I met with him yesterday. He said he would sell them on contract but wants to cash out in 2 years.

I have no idea how to approach this deal and could use some advice. Where do I begin? I thought the first thing would be to look at them. I also thought I'd talk to my banker and see if he had any suggestions for me in terms of financing this deal.

The seller didn't give me any idea of what kind of price or terms he would consider.

He did give me a print out of the addresses, number of bedrooms, if the house had a garage, county assessed value, annual taxes, and the monthly rent for each property.

How do I approach this deal and what kind of due diligence do I perform?

Could use help with this huge potential deal -- Thanks!