I better go get me a new pair of running shoes.  

Find out what kind of issues they have with the property (ie: leaks, hot water, termites, rats, noise, crime, what they think about the other tenants, when their last house call/repair was, what parking storage/storage goes with which unit, etc) You can get a lot of insights and points of further investigation this way.   

Jealous because I wish I was already in your shoes and happy because your are winning.

Im holding it for sentimental and storage reasons.

I was in your shoes!

They may even charge you to retrieve them from storage if they've already been archived. 

Again, before you get involved it's best to see a finance attorney and your CPA to understand the shoes you're stepping into and your tax ramifications. :)

I did a lot of these in my day probably 100 or more.. but we could always stroke a check and or refi.I have run into numerous folks that got into title on houses .. tenant would not pay and they made it one or two months before they could no longer pay on the underlying they were running on a shoe string and got into these deals with little money and no credit and listen to coachs and guru's as how to buy with little or no down and no personal credit.. well this is a way to do it.. but its very dangerous for a seller whos credit is important to them etc... its just not a beginner strategy or a scheme to use when you have little or no money and no credit..Unlike what the gurus and coachs say.

I'm in the same shoes.  

People never took off their shoes.