If you don't have savings to get more property, the leverage would only increase and the risk so why risk something when you are creating a strong foundation?

It earned about $35K a year, which combined with is retirement and social security benefits, provided him with top shelf top shelf living facilities - assisted living and then memory care.  

The thing is he wants to sell it directly to me (FSBO) without the use of an agent to save on commissions.

As the owner, you should also be more flexible about how nice the basement is - saving you rehab costs. 

His goal is for members to generate a retirement starting in 5 yr's or sooner.

You said the initial applicants didn't have jobs or savings?

., are much better platforms for automated help with bookkeeping to save time and make your life easier.

Quote from @Hamed Rahimi: With so few properties, you'll spend more time learning how to use the tools than you will save from using them.Software is a common question on BiggerPockets.

Check for cap ex coming, mechanicals, and smart repairs to do now that will save you later.

The agent contacted the city and they denied the responsibility at first then with push the city took the whole project on and saved the seller and buyer that cost.