Cashflow is attractive though and great price it's a bit older though is the property in good standing also 

We have oil here, and the buildings are older and so I've put alot more repairs than average, and hence, that 55% will most likely be more like 45% over the next few years.

All of a sudden, with MUCH surprise and total confusion (I was expecting an older woman maybe around the same age as my landlord), a little boy comes running through the house.

Never mind the fact that these rents are not seasoned.

Its also much much older than ours.  

Most banks will want it seasoned a bit though, so hopefully your hard money loan doesn't have a balloon payment after 1 year. 

A little older than you, but still renting to people in their 40s. 

The owner thought he would be helpful and started to remodel one of the older units but he did it prior to the appraisal.  

I would also suggest that you look into Northwest REIA and Rarebard, both of which are attended by very seasoned and knowledgeable real estate investors.

@Luisito EspanolaIf you are self-employed with no employees, look into opening a solo 401k as it will allow you to reduce your taxable income by as much as $53,000 or $59,000 if you are age 50 or older.