And can buy bulk rates at deeper discounts?  

My mailer will offer to purchase their land at a deeply discounted price (since they probably don't want it any more anyway).My question is this: I need to know the step-by-step process, and the documents I need to use, when a seller contacts me back and says "Yes, I will sell at that price".

Here are the numbers:Purchase Price 89K2x 3/1.5 1220 Square feet eachFully Rented: Gross Rents 1300, 650 eachFully rehabbed Market Value, 97k (But I am suspect of this, can't find anything in research to justify this price)It is in the 46205 zip code "Historic Irvington".Is this a good neighborhood?

For an additional $5-10K discount, it wouldn't bother me.

ALL Taxes, Code Violations and fines have been paidPurchase price would be about $26k, Seller claims to have $50k into property.

Get the properties appraised and see if you can negotiate a discount for buying the whole package.

If he is ok with you shopping his offer of properties with a good guy discount, then go for it.  

Justin:When Thomas asked about legal non-confirming, I do not believe he was implying your house is not compliant with building and fire codes, but was asking if it conformed to local zoning by-laws.We have student housing as well and it has been our experience that most university towns have occupancy by-laws limiting the number of un-related adults in a single dwelling unit (usually to 3 - 5) which are specifically aimed at student rooming houses.  

Well in a nut shell... he gave me about 6 zip codes to look at.  

The numbers appear good but the kicker is that the quotes were coming in around $125 due to the code issues that would need to be addressed.