Imagine if you had the chance to get into 100 of these with the same terms; you'd be able to retire in no time.

Unless the properties achieve unheard of increases in appreciation, I'll be one catastrophe away from not being able to save up enough down payment and the required cash reserves to refinance within the next 5 years.The seller has had these properties on the market off and on for about 2 years and state they want to liquidate their rentals in preparation for retirement. 

The items I do have going for me, are the Credit score, that is rising, the stable job history, I have worked for the State of Iowa as a Correctional Officer for the past seven years, and the fact that a lot of my living expenses are low since I live with my parents.    

Both cities are economically stable and growing and I think, in many areas of those cities, your tenant pool is going to be better than compared to Indianapolis, Philly, Detroit, etc...  

@Chris Licavoli do you have any other retirement accounts besides this one?

A colleague of mine retired as Maintenance manager from an Industrial complex & was bored.He also owned a large warehouse that was bleeding him dry with transient tenants so we all sat around one night tossing out ideas & he decide to approach a couple of the local community colleges.

First, you need to look at your current retirement account and see where your funds are invested and what kind of returns your account been generating over the last few years.

Once the building is stable, go for a long term refinance from a bank.  

I did come across a couple deals from a retiring landlord last year that made sense for me to wholesale.

This is why I want to re-invest a good chunk of my profits to build something that is a lot more stable and predictable.