(The first horse out of the gate doesn't always win the race)Good Luck!

@Alex F.I think your putting the cart before the horse some and not giving yourself enough credit at the same time.

@Derek Morrison  Talking with attorneys, CPAs, contractors, lenders, etc. is putting the cart before the horse. 

@Atul Mohlajee Your so mean I hope you can stay on your high horse your whole life and your never in a situation.... you have 23 units and your about to die for the 2 that pay late, I hope your never in a situation like that. you deserve no mercy

Keep in mind be careful with getting yourself into a one horse town as it will be tough to attract tenants and decent vendors.

I can't get it from the horse's mouth here as to the regulations, but supposedly if you have a septic tank fail and the county learns about it, you're on the hook to remediate the damage and then connect to the sewer.

I also don't want to put the cart before the horse as we made pretty good purchases  to begin with and I don't want to just trade apples for apples. 

I don't want to put the cart before the horse, but say everything checked out and it turned out to be a good deal, what would be a good way to purchase the house from him?

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $315,000

Cash invested: $38,000

Sale price: $450,000

This was an older home(1950's) that This was our 2nd prope...

However, this property is also on 2 acres of land, was a horse property and the dogs are kept in the barn.