Age/Goals/Life Status, etc.

@Jeffrey Yates I agee with @Jon Holdman .  

Judging from the age of appliances and finishes, it has almost certainly been in use as a triplex since then, no telling about vacancy though.We've decided to move forward with the purchase and are requesting a letter from the seller stating that it was a triplex when he purchased it in 2006 and has been in continuous use as one since then, as well as a statement that it has not been vacant for more than 12 months during his ownership (I think the city has some form letter for this that we'll just use).

This has been done for ages, and allows the original lender to cash out their loan, so they can do it again.

I started at your age and love real estate more now then ever.

Yes, it can be challenging for investors when it comes to insurance as many standard companies have stipulations on the age of many things, roofs being one of the most commonly scrutinized.

Hey Zach, to answer the question 1, could you tell more about your target area, tenant and the ages of the houses?

My question to the community is:  At age 59, I'm not so sure that real estate investing (income properties) is viable for me given the needed time (buy & hold).  

I have two list: List one 805 addresses, absentee owners in my zip code; List two 1200 addresses, owner 1 age 45+, equity 30%+, two zip codes (not mine but nearby).

@John Moore thanks for clearing that up. i am familiar with propane tanks as my mother is a small business owner in my city. and i did not know that about the difference in the ages of the homes and how they are set up in heating the home. i appreciate your feedback as i am venturing into your market to purchase a foreclosure. these nuggets are so helpful.