Hey @Alex Concepcion sorry it took a couple days to get you properly welcomed here on the site!

I believe all you need is the proper liability insurance and landlord policy.).

To properly analyze, you need to know everything about the property.

But he did allow me to see BOTH sets of books to ensure he was viable & could afford my NNN.

The house was winterized back in Nov 2013, so the water was turned off and the water meter was removed to ensure the pipes wouldn't freeze (here in Michigan).

I usually have that age vintage in the 8's or 9's.They have and incredible amount of operating expenses with vacancy.28 units managing from afar does not allow proper structure in place for a full time manager and maintenance person.They have at about 61% but if other capex or problems are coming that cap could go to a 6 etc.I do not know that are so if it is in an amazing area and sitting on a bunch of land the dirt might make up for it.

Compare the APR for proper evaluation.

just trying to set proper expectations and to see if I need to plan on finding more income....thanks in advance.

So, get a good lawyer when you do any contract.My experince has been, if a person is seeking a land contract, they can't get a loan from a bank or other lender.Land Contracts do work if done properly.

We would like to ensure that you have a clear understanding of our rental process up front.We will conduct a credit and background check and contact references as part of the application process.It is important to provide a clear and complete application to make this process as smooth as possible.Please ensure you will meet the following qualification requirements before applying as there is a non-refundable application fee:Stable, verifiable gross income of at least 3 times the monthly rentFavorable credit history - no judgments to prior landlordsPositive references from previous 3 landlordsNo eviction historyClean criminal background check – no feloniesAll applications must be accompanied by a non-refundable application fee of $25 for the first adult and $15 for each additional resident over 18 years of age.This fee covers the cost of the credit and background checks.Again, we encourage you to apply only if you are confident in meeting the qualification requirements.Applications will be processed in the order received, and the fee will only be charged upon processing.If the apartment is rented prior to your application being processed, we will return your application fee.We use TransUnion SmartMove for our screening process.Upon receipt of a completed application with fee, we will send an invitation for you via e-mail to complete the application with SmartMove directly – there will be no additional cost for this beyond the application fee.This process helps protect the integrity of your personal information.