Is this a good deal? and is Bronx NY up and coming?

[Isuf Aruci]

Hey guys my name is Isuf Aruci, I saved a good amount of money and want to start investing into 2-4 families. I'm about to close on this 2 family property in Pelham parkway north Bronx, NY 3BR over 3 BR over 2 BR in above ground basement. Rent has gone up in the area I got the property for $ 670,000 with 20% down (134,00). I feel that I'm putting a lot as the down payment if I put a lower down payment I get stuck with the PMI. Can some one please help me out.

[Giovanni Soto]

@Isuf Aruci,

hey you better not say it too loud that its a 2 fam and you have 3 apts. Conisder legalizing that 3rd apt if its possible (maybe costly but the FMV may increase. But it may be costlier if HPD finds out what you are doing. Fines are Huge (ask me how i know), if tenants on the illegal unit stop paying than you cannot force them. they will live for free for 6 months and you may have to give them back the rent they have paid to that point. BEWARE.

Good Luck