Still, to me (with limited knowledge), this seems like a great deal and I should at least cultivate this relationship going forward (while self managing). what do y’all think?

Additionally, depending on your unique requirements and tastes, speaking with a local real estate agent might offer insightful advice.If you have more specific criteria or questions about any of these areas, feel free to share, and I can provide more targeted information. 

I feel like the old multifamily properties vacancy rates are very high?

You may want to dig that up to get a feel for the DSM metro market rate unit rentals, vacancy, etc. 

I would recommend you chat with him as he has a wealth of knowledge 

I would also let them know you no longer feel comfortable hosting this guest.

But I feel like I can't get an attorney to help they keep saying i have to prove Jerry (step dad didn't own them anymore) well the bank just proved it right?

I also recommend driving through the "bad neighborhoods" yourself to get a feel for the area.

Thank you in advance. ( Also I'm in the middle of BRRR book so I'm feeling motivated ) 

But assuming I feel extremely confident in the proforma numbers, does the structure seem fair for the risk and requirements from each party?