new member introduction from Oklahoma City

[John Doyle]

Hi, my name is Corbyn Doyle and my wife and I live in central OKC.

We are totally new to REI, and have come to this site looking for helpful knowledge in assessing a couple of deals that have been offered to us in our neighborhood.

They are both owner-financed deals on rental properties just down the street from us (one is a duplex and the other a duplex with two garage apartments).

Both deals have kind of fallen in our lap (we weren't looking for investment properties) because of our friendships with the two owners of the properties (a different owner for each property, unrelated and unknown to each other).

We basically need to know (1) what kind of return on investment we could expect from the properties (given certain known variables) and (2) what sort of pitfalls to look out for in owner-financing.

Thanks for any help you can provide!