My husband and I are from the Dayton area in Ohio, we are retired from the Air Force here at Wright Patterson.  

One other piece of information I should have put in my initial post is that I have to hold the property for at least 2 years due to laws around the retirement funds I'm purchasing the property with.

Even though 16+ years out it is information I will I will be aware of in my continued pursuit of a healthy and financially secure retirement.

For example, are any of them close to retirement?

Doing your own PM work s overrated and buying yourself a job unless in an area where tenant demand and quality is so strong it requires minimal effort to manage the asset.That is usually the rarity and not the norm.If you were just holding this property for equity build up and tax write off and were to stay with your profession until retirement then this property might work if in a great area.

I want to retire financially independent as soon as possible.

So are you saying that it makes sense for a business that wants that location, but not as much for a passive investor looking for retirement income?

Sounds like he is doing a ROBS, which is a way to direct your retirement funds to fund a business and generate taxable income outside of your retirement.

I have worked for the FAA the last 20 years and just looking for some passive income, that can supplement retirement.

Now I have a seller that just wants out and want me to take over payments on 2 rentals he has because he is retireing and wants to move and not handle them long distance.