Should i offer 195,720 or would you stay away?

[Niyi Adewole]

I am looking to purchase my first multi-family investment property using an FHA loan. I plan to live in one of the units and rent the other three out.

Below is a description of the property i'm considering: 

Listed Price: $289,900 with a motivated seller. Based on the rent, i would like to offer $195,720. 

4 units rented and pulling in $2330 per month. there is a 5th unit, but this unit needs sprinklers installed to be put in use hence the reason this will still qualify for FHA. The owner has offered to put forth 15K to help with the sprinkler installment. 5th unit could pull in another 500 after repairs.

Built in the late 1800's, 4 off street parking places, 2004 updated wiring, new gas lines, hvac, gutters, 5 furnaces, 3 central air units (2 more of unknown age) 80 gallon water tank from 2007. roof is ~13 years old.  

Repairs/Updates that need to be made: Popcorn ceilings in the bathroom that most likely contain asbethos, new appliances, Some additional dry wall. Tree removal out front, Hvacs are getting old. 

IS THIS A PROPERTY I SHOULD OFFER AT 195,720? OR WOULD YOU WALK AWAY? again this would be my first investment and i would be living in it, any help would be much appreciated.