Is the oil industry still booming out there?

Do not believe anyone that might make money off of you. 

I found a 3 building 6 unit listing on my local MLS and I believe that I may be looking at this deal wrong. 

If you believe you need a lawyer to boot them in the butt you are try to hang on to tenants that will ultimately cost you money.Send notice, file eviction and then decide if you want to keep them or not otherwise you will be paying a lawyer to issue notices every month.

I know Sandia labs and Kirtland are SW and I believe the collge is too. 

Some people use hard money lenders, but I believe if you do then you have to hold the property 1 year before doing a cash-out refi.

My Lakewood property was a huge mistake on the acquisition side thanks to my inexperience and a snake-oil-salesman-RE-agent pushing for a commission, but because the property was in such bad shape I was able to still come out with $40k in equity from acquisition. 

Ready for a second deal, I have come across a private sell in a slightly sub-par area of town (I would guess C to C- neighborhood) close to the older down town/industrial district (I live in Hobbs, NM, an oil and gas town hugging the west Texas border).

But they (and a lawyer) needs to believe they can actually win enough money to make it worthwhile for both.

I am working with her nephew and he mentioned that he believes there is a reverse mortgage on the property.What is the next step for me?