Here's the deal.  Can you find any reason NOT to buy it?

6 properties, all duplexes but one is a tri.  All rented.  Total rents right now are $3800.00 per month.

Owner will lease option for 6 years.  $190K for all.  10% down and financing at 10%.  (not crazy about that, but still not bad).  He wants me to pay off one house per year and will give deed as houses are paid off.  If anything major goes wrong, he will fix it. 

All houses need repairs and updating but all are rented and people are living in them. 

ARV= $80-100K if fixed up.

They are in harsh neighborhoods, but not warzones.  Neighborhood is trying to clean itself up, so it's hopeful for better neighborhood in the future. 

See any reason NOT to buy?  I have bought too many houses where the equity wasn't there.  This time, I think I will have a much better set of houses.

One drawback... it's 2 hour drive from my home. 

Three of the houses have been rented to own @ $56K.  That's what he sold them to the people 'as is'.  I will need to honor the terms.

One question:  When buying already rented properties or rent to own leases, how do you handle deposits and down-payments?

thanks!