How to evaluate a combo of 3 single family houses?

[Mikhil A.]

Hello everyone,

My name is Mikhil. I am very new to real estate investing and I am trying to learn as much as I can through the podcasts, forum posts, and books. I am currently looking for my first deal. I am trying to evaluate a deal that was offered to me and I was really hoping to get some advice on it to make sure that I don't miss anything.

A local real estate investor is offering to sell a set of 3 single families homes as a package. The homes are in El Paso, TX. He said they are worth around 80-90k and that he is willing to sell them to me for 60k ($180k total). The homes have been recently flipped (around a year or less ago) and are currently rented with tenants in them already. Rent for all 3 together is around $2400. 

My question is what kinds of things should I be evaluating and if there are any things that I should be concerned about? I am thinking about getting an inspection done to verify the condition of the houses and also to get a price evaluation done to make sure that the market value is around those figures. I shouldn't have a problem being approved for that loan amount with my W-2 income. What else would you recommend that I check to make sure that this is a deal worth doing?

Please let me know if you need any other information. Any advice would be greatly appreciated!!

Thank you very much,

Mikhil