Is this a good investment?

[Curtis Bowery]

I am new to the business. I have an opportunity to buy two 10 year old rental houses for $110,000 each. They both appraised for $145,000. They were constructed with 30 year roofs and are solid homes. The renters in them now are currently paying $700/mo and have lived in each since built (the same extended family occupies each one). The insurance will be $740/yr and taxes $550 on each. Market rent in our area for these is $900...

Question: Is this a good investment? Depending on the market, I don't plan to keep them longer than 6 years because it will probably be getting time to replace things, and especially if it is not renting for 1%. If it is a good investment, how should I set up a mortgage (term and credit/points). Any help is much appreciated.

[Jaysen Medhurst]

@Curtis Bowery, maybe a way to make a quick $40-50k. I guess that's what makes me nervous. "Quick" money always make me nervous. Guess I'm conservative that way.