And that's the crux of it all; ALL these people and pieces have to go exactly "right".

They want to sell all of them at once, and not piece meal them out individually, so they are asking for less than market value.The offer is 6 homes 5 of which currently have renters, for $400,000.

You buy pieces of a market. 

You basically become a fractional owner in a large piece of property, such as an apartment complex or retail or industrial property.

Are the people that are moving into your properties signing leases without viewing the property, do you allow them to tour with current tenants, or is there another piece I'm missing?

The sketchy wood pieces in the crawlspace is your sign. 

If she is, it will work wonderfully.My last piece of advice is to buy a few books and learn to self-manage this one unit.

That last piece is why we are moving to real estate investing to replace our income... :)We are targeting sub 300k properties that are in the path of progress around here.

I know the slanted walls are hard for that, but adding a few pieces where you can, and maybe a few artificial plants in pots would help warm it up.

@Alexander Merritt   IMHO low end rentals are only suitable for local investors that are in the landlord business and are going to scale up and own as many as they can get 100's have your own PM and maintenance and that's the ONLY way in my mind that stuff will work over any amount of time.buy the best that you can if your just starting out.