If this is what you have been looking for and you have talked to the seller and found out his story of retiring from the game, looked at the numbers and it makes sense for your "WHY", then all that is left is to execute on the deal and stay on course with your due diligence on the asset itself. 

I purposely staggered the leases to expire 2 months apart, and I made them shorter so that I could get a feel for the tenants and address any issues with a new lease if they opt to stay on.

Is there a value range you have to stay under?

Wow long does it take for you guys to find tenants and how long do they usually stay before leaving and buying a place of their own?

Areas to stay away from?

Also, I was applying only with my income as wife is a stay-at-home mom.

I’ll be trying to do something similar on my next property although I may try to stay under my remaining second tier entitlement and put 0 down.

Are there any areas that we should stay away from (higher crime, etc)?

I am interested in doing the same with some of my friends but I want to stay in Queens.

Of course he’s been around a long time and is smart as hell but still, it’s a business and really some of the things Martin mentioned, if you don’t do them do you think you will stay in business long?