Buying 5 plex with home equity

[Seth Larson]

First potential deal and im looking for advice from the community

5plex in Kansas City area, under 100k, good neigborhood

to get around the commercial loan only for 4 unit and up houses this would be a cash offer from a HELOC

the house with equity is a $400k+ 3/2 in so cal, my mothers house, free and clear

income before expenses is $2,300 per mo, $27,600 per year

after expenses is around $20,000 per year

once the HELOC payment period starts i figure it would be somewhere around $500 or so, that would still leave around $1,700 in cash flow

i would be taking 15-20% for managing the manager and my mom would have the rest because she owns the house with the equity

to me it sounds great and would be a great first step to owning property, please let me know what you think