However, if you were to write explaining in detail how if they don't get a property manager, how you have successfully done this so we can learn, that can be extremely beneficial to all of us, even myself who is a huge pro-manager investor for many extremely valid reasons.Lisa

You make some valid points.

A legal entity such as a LLC is only valid to the extent it is managed especially contractually.

VALIDATE the numbers they are stating before ordering or paying for any inspections etc.

It's quite possible if you're selling FSBO (no commissions involved) and if you're not paying any concessions or closing costs of the buyer, but these are less common circumstances.Typically, closing costs (on the buy and sell side), holding costs (taxes, insurance, utilities, etc) and selling costs (concessions, commissions, home warranty, etc), tends to be closer to 10% of the selling price, if you're doing an all-cash deal (i.e., you have no loan costs).Regardless, sounds like a successful deal...congrats again!!!

You can track down heirs (or beneficiaries, if a valid will is produced).

Also, once I get my hands on the information how could I determine if it is valid or not (if the seller is inflating the rents or not being honest about the expenses etc.)?

This is a valid point.

If I were you I'd try to wholesale the L/O contract (If that is what you have) and get a smaller profit and get out fast since you will have a limited buyer pool of if you have a tenant buyer go bad in your sandwich you might have trouble getting another one.Again this all assumes that the $340K appraisal is correct and still valid after a year.

Verify that it is a valid deal.