I ran an analysis if we were to rent each bedroom at $650 (which is competitive for this market), include all utilities, include the missing expenses from owner's log and furnish each apartment, the monthly cash flow numbers look much better.

The hotel has been established for 15 years & the owner has showed my all of his paper work and my yearly income will be $100,00.00 easy so once I can get my foot in the door , I can easily repay my investors it's just coming up with that initial $ 125,000.00 that is my biggest hurdle at the moment .

My boyfriend is the one who had the actual experience & his parents are ready to retire (they are the actual owners) they are willing to train me in the day to day to operations plus the business side of it .

Also, what have been your most successful types of data other than absentee owners?

Currently house hunting for a single family home to move into myself. I will be keeping the duplex as an investment/rental property. 

My thinking is that I need to create a set of business accounts using my name as the owner and flow my income/expenses on these first two properties though those accounts and then have a separate set of accounts for the LLC activities related to any new properties.

What are other relevant questions I should ask owner?

How well did the previous owner screen tenants?

The one thing I can say, is interview and research companies and their owners (operators).

Lacking multi family experience but considering the owner is motivated to sell and from the information provided this appeared to a very solid lead.