Knoxville Buy & Hold Investors

[Derek Tellier]

So I'm basically just practicing analyzing deals. I have not done due diligence on these, the water, garbage and insurance are purely estimates and likely high. These are 2 properties side by side, 1 Tri and 1 Duo. Same owner, same selling agent. I put in $10K for rehab just to give a cushion but I'm told the properties are in good shape. 

This is actually what I got form the agent "The owner is elderly and wants to start liquidating all of her rental properties, since her husband has passed away and her daughters who are involved with the property management are no longer interested in this business. They are not desperate to sell and her son-in-law is a contractor who has fairly recently updated both buildings inside and out. They calculated their return at 13%. It is 100% occupied and all tenants have been there for more than one year and have yearly leases."

So basically looking for input and if there is anyone really looking in the Knoxville area then maybe it's a good lead for you. I'm not in a position to come up with 20% down so likely couldn't get them anyway. Like I said just practicing and looking for feedback. 
Thanks

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