Opportunity of a lifetime

[Daryl L.]

Just got a call last night for what may be a great (amazing!) opportunity. A family member is looking to retire and offered that I could take over his entire business. We didn't get into the depth of details I'd like but I did talk with him enough to get some basics:

*25-30 properties
Mostly SFH, with a couple commercial and MFH
  One 30+unit complex rented out weekly as efficiencies

*5 employees 
   Most are laborers
   All maintenance is done by owner and employees (Roofs, plumbing, electrical, you name it)
   Bookkeeper recently quit so books are a mess....not sure how bad but I know everything is done in cash with paper receipts. No electronic anything.

*Lots of tools and equipment
   Heavy equipment, trucks, trailers, etc. Lots of assets that need maintenance and insurance (operating costs)

*In a different state
   I'd have to leave my 9-5, move to a different state (TX)....not sure if I'd keep my current 3 rentals or not (LA & GA).


Now my question is, other than cashflow in/cashflow out, asset list with values, annual property taxes.....that should I be looking for to evaluate this deal?  I'm an engineer currently and make damn good money in a very stable industry, I want to evaluate this as best I can before jumping behind the helm of a business like this. It's not often a multi-million dollar estate is dropped in your lap where I come from, so I want to make sure I have my eyes wide open before jumping.