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Updated over 5 years ago,
First time jumping in, need some help if I have an okay deal
I have found a package of 2 buildings with 11 units in College Station, TX and they are asking for $600,000. My estimated mortgage for this would be $2,862-$3100 from what I can tell with 0% down. I'm interested in living in one of the units, there are 2 open, and 9 not terminated. The monthly rent excluding the 2 open rooms is $5,750. However on the rent roll it says 2 are pending disposition and 1 has a status of "Draft" which I'm not sure what that means. All 3 say no on active, so excluding them its $3,800 a month. One of the pending dispositions last paid a month ago, while the other last paid 2 months ago. The "draft" paid 4 months ago. The total income of the building was $52,400 while their expenses were $30,600 with a net of $21,800 from 08/01/2018 to 07/09/2019.
Looking through the CAD property search, one property is worth $213,458 and the other is $230,028 bringing their assessed value at $443,486. Tax for 1 is $5,435.20 and 2 is $5,043.67 for a total of $10,478.87 property tax.
Thank you.