They are legit and nice enough seasoned builders. 

However, a number of older complexes built in the 70's-80's only pay 50%

Investing for cash flow in my mind is fantastic, I just want that perspective from a more seasoned person than myself as it pertains to the long term. 

Off season...)We are far out of town so having someone come by just because isn't really feasible.

Closing got delayed until the VERY beginning of the new tax season so there was an additional $3k at closing for the proration of taxes.

Older buildings, lots of water, insurance issues.

I'm fine with it and everyone I've rented to has been older than me.I'm still interested in joining the group and being able to network with others.

These forums are a great place to learn and meet people, whether you're just starting out or you're a seasoned investor.

Get all of your communication together with this gentleman and make it easy for your attorney to see what is happening. 

Purchase price: $35,000 Cash invested: $20,000 Sale price: $95,000 Fix and Flip, Purchased from a neighbor that bought it from an older couple that could not take care of the home or themselves anymore.