If you don't know how to assess condition/age, home inspectors could help with this.

Offer 1 year leases to All 4 tenants under the condition that they pay in full on the 1st and if they don't then I might just have 4 evictions to do in April?

I also know where the distressed properties (condition wise) are located.  

So just by looking at when he bought them, the price he bought it for and what it's listed for now and the condition every property is in tells me a lot about how he operated. 

Does this meas that I can lock an interest rate, fees and conditions today but only cash out after 6 months (plus whatever overlay from the bank)? 

If you SELL a rehabbed property to a VA buyer, it's a different story because the house is in retail condition. 

Jannelle Nevels once you get possession of the property, check the plumbing, chances are there is a leak somewhere.Also assuming you read the Property Condition Report, which can give you a very high level idea of the condition.Did you get HUDs title insurance or your own?

Check to see if the rents they are currently collecting are above/below market average and could these be raised.Some places to compare rents for that area are rentometer.com, zillow.com, craigslist.org.How much it'll cost to bring each unit up to rental-able condition.

Most times the properties are in decent condition, and of course the bank wants as close to FMV as possible.  

I am 65 years old, in excellent health ( go to YMCA 3 days a week walk 3 miles almost every day).