Speaking at least for my company, we have exclusive listing agreements, so if you want to buy a business we represent, you have to work through us - even if you approach the seller directly. 

Any other concerns with this approach I should know about? 

I need advice on how to approach this ownership transition.

From there, at your discretion, you'll have a lot more confidence in approaching deals since you'll get your own eyes on the area. 

If so any advice on how to best approach this will be greatly appreciated.

When I stepped inside, I immediately realized the interior had some significant challenges that would make the BRRR approach a lot more difficult.

@Eric BarriosAlways get an estoppel signed by the prior owner an all tenants regarding lease agreement specifics, security deposit held and amount paid or outstanding.There are countless stories of new owner finding out from tenants after the fact a different stories than what was told by the prior owner before the sale.

In fact, a PM owner approached me about this with a property of his here in the DFW area recently.

I got approached by two people that I trust but they are not able to buy house on their own.

Im thinking if I come up with a different approach to the prospecting and farm these neighborhoods differently and use a different contract I could be okay.