First potential deal - help appreciated

[Daniel Quinn]

Hi everyone,

I have recently gotten into REI and have been looking at the local market and planning on getting a triplex when my current lease ends in the summer. During the course of my search I found a deal that I like in a different area that I'm familiar with. It is a 5b, 3ba SFH in a college town with a current list price of $45000.

Based on the information I see it looks like it was purchased last year and renovated some but they are having a hard time unloading the property. It is currently rented out to college students at $900/month. The house itself is within two blocks of the college and downtown. The real estate company has annual tax at $1,863 and insurance $135 making the total payment roughly $338. I know I would likely require a property manager and I'm having a hard time determining the additional expenses. I used the rental calculator on BP which gave me a monthly cash flow of $357 but I'm not sure if that sounds right.

Sorry, for the vague question but I guess I'am hoping to have separate/more experienced eyes on it and let me know what I'm not considering. It is tough not having another person to bounce ides off of.

Thank you