Possible first acquisition….help.

[Della Beaver]

Looking to purchase my first investment property.

The property is an townhouse type property with 2 three bedroom apartments and a store front that is rented for the next 2 years.  The monthly rents for the apartments are $1395.00 and for the store front, $2500.00 per month.  The property is selling for $325,000 and the appraised value is $325,000 so obviously I would not offer the asking price.  I was thinking $250,000-275,0000.. I estimated the rehab at $25,000. The property is in relatively good condition,however, it has knob & tube electrical which will need to be replaced as well as cosmetic changes.

What do you think?  Anything I’m missing or have not thought of?