Any tips on small asset purchase?

I own an HVAC business and I’m about to move forward on an asset-only purchase of a fireplace business in a different market that I was already planning to open a second HVAC branch in. I will essentially share the fireplace premises and use it for both businesses, and hopefully they will complement one another, but the fireplace one will remain a separate entity. I’ve been researching acquisition for over a year, but this is my first. Does anyone have any high level tips or advice as I go into my this first acquisition? For some background, it is an asset-only purchase including the website, email, client list, fireplace showroom and some inventory. Current owner runs the whole operation and wants to stay on for ~3 years and/or provide training if I want to take over. Very low purchase price, only ~600k annual revenue, and the business is in the red. I feel fairly confident I can turn it around due to my connections in the area, business experience, removal of debt that the current owners are paying off, and running an HVAC business which goes hand-in-hand with fireplaces. But nervous, of course, since I’m buying a failing enterprise. That being said, the purchase price is so low I could move on without much loss if it did fail.