Hello I recently signed two purchase agreements, How did i DO?

[Michael Beeman]

My first purchase was a local single family home owned by a company out of state that had used it for their migrant workers 5 years ago and had forgotten about it.  List was 30k, I offered 15k and settled at 17500. It is a large 2 story older home and needs about 2500 dollars in roof repairs, due to gutters not being cleaned out and Facer boards rotting away.  I have spoken with contractors and I can turn the home and the attached garage into 3 seperate 2br units that rent for 500 a piece. The cost of that renovation is an additional 22500.  My total cost would be about 45k. Because of the local pipeline company in this town the vacancy rates are very low.  

My second purchase was signed this week, a friend had heard of my first purchase and believed I must be serious, so he told me of a mutual friend of our's boss that had purchased a 6 unit apartment building 2 years ago and he is in the oil business, he put it on the back burner and has only rented 1 unit. He had no financials on the place, but after an inspection and realizing i needed to put about 3k a unit into 3 units to improve their "showing appeal" I will be able to rent the 6 units for about 3600 total. Vacancy rates in this town are around 5-8% due to the large volume of workers at the local refinery. I purchased this property after closing costs for 61k.  I think I've done well, and now I have to keep reading and learning how to manage property. Does anyone else have any opinions.