Help! Am I calculating this wrong wrong?!?

[Alexis Scott]

Hey BP! So I am trying to make sure I am calculating this deal correctly. Any help would be greatly appreciated :) Purchase Price: $1,550,000 Cash to Close: $155,000 Monthly Rent Total (11 units): $11,550 per unit is $1050 Property Tax: $591 (monthly) $ 7,090 (yearly) Insurance: $1,100 (monthly) Property Manager: $1,155 (10%) of monthly rent Mortgage: $13,932 (monthly) Vacancy: $1,155 (10%) Repairs: $1,155 (10%) Total: $19,089 Income-Expenses= $11,550-$19,089 -$7,539 negative cash flow I feel like I did the math wrong on this deal, any suggestions???????

[Kevin Coggins]

Looks like your purchase price is too high