I’ll double-check with the lender to make sure there aren’t any unexpected conditions tied to it.

Most off market purchases cannot easily be comped with mls properties that comparatively have no risk and are in much better condition).so …Pay for a fixed fee mls listing with the property already under contract.  

:) Its generally a good idea to know the condition of a property or level of expected repairs so you can anticipate those repairs and build them into your bid for the property.

But the property as a whole was in much worse condition than expected, so I don't think the numbers would work out for me.

He says it's in good condition, could use AC and a heater, maybe some new siding but otherwise in good condition.He has a renter there paying $1600 month to month who wants to stay but has no long term lease. 

Without knowing the condition of the property, that is the main thing.

Fundrise recently sent an email to investors notifying that in difficult market conditions they reserve the right to halt redemptions.

What condition are those units in and the metal building ? 

Because it will be very hard for you to know if he is selling you a deal in a good neighborhood, in good condition, and then placing good tenants.As others have suggested, see if there is a syndication deal that fits your investment goals.

The location, price, and condition created the ideal situation for our team to make an educated offer.