Opportunity to buy out a local landlord

[Corey Grant]

Greetings,

I have an opportunity to purchase 10-20 single family rentals. I currently have 4 units, a duplex and 2 single families.  3 of those we have run for the last 8 years.

My questions are along the lines of:
1. What details should I ask for from the seller to evaluate the deal?  The only things I can think of is to find out how much each unit rents for and are they current and paying ontime. 
2. How should we attempt to structure the deal?

He is willing to owner finance. We are scheduled to meet Monday evening to discuss the details. At this point we have no idea what he might have in mind, but I don't think is is going to be crazy expensive.  But maybe that's just wishful thinking.

We have driven and looked at 11 of his rent houses. They look good. No high end stuff, but only one was a scary looking mobile home. The others seem to have recently been renovated with hardy siding, commercial carpet throughout or laminate flooring, new paint, and metal roofs (for some). The units that don't already have renters look 90% ready for renters. I would say rents should pull $600-$800. Some higher and some lower.

Thanks for your ideas!

-corey