Hey team,

My push to take action for my third deal has landed on quite the gold mine in the past few weeks. I was screening tenants for my duplex and found a prospect. During her application process, I obviously called her current landlord for a reference and to verify information. Our conversation quickly went another direction since the landlord was intrigued to know I was properly screening my applicants and taking the time to do things right. He bluntly stated he was tired of landlording, wanted out, and wanted to enjoy the rest of his life...then followed up by saying "wanna buy mine?" It is a portfolio of 16 units which consists of 10 SFR's, 2 duplex's, and 2 storage units. I told him my intentions are to grow my portfolio, and would love to sit down and talk about it, and possibly come to terms on a deal. He agreed, and we met a week later over coffee, which was today.

After getting to know each other and discussing my intentions with real estate in the future, he agreed to some preliminary seller finance terms.  

$10,000 down or less (not yet negotiated)

-3 year term then balloon (on a 30 year amortization schedule)

or

-5 year term then balloon (on a 20 year amortization schedule)

-7-12% interest (not yet negotiated)

-I can buy all, or cherry pick the properties I want

The properties are all owned free and clear, most are in great shape, and one unit of the 15 is vacant.

This was the first time I was able to sit down, and let an investor hear me out and formulate a deal.  It was motivating and exhilarating, and I most definitely want to capitalize on this opportunity. So to all of the investors out there who have seller finance experience, or great advice, please, flood me with info!

He has asked me to send him 3-4 offers, and we'll volley back and forth from there.  We discussed property conditions, and rent amount for each unit, so I just need to call my county to find out taxes and find comps to come up with a price for each property.  

-What are the best ways to find comps? (reliable ones)  I have a realtor, but don't want to waste too much of his time pulling comps for 10+ properties.

-What should be my sequence of operations here? So that I am doing my due diligence, but keeping this ball rolling so this investor doesn't drop me off the radar?

I currently own 3 units. A duplex and a single family, and have been a landlord for 3 years. Thanks to reading, and much of @Brandon Turner's content, they are running like a well oiled machine. Which gives me the confidence to start growing, and jump on this deal.

Thanks in advance for all of your input an advice!