Need advice on first BIG purchase?!

[Lindsay Conway]

So my husband and I have the opportunity to buy our first BIG RE purchase. Want to see what you guys think.

-9 unit apartment building w/large storage shed and office

-Appraised on county website for $145,000 back in 2003

-Could easily rent each apartment for $500/month, bringing cash flow to $4500/month

-Purchase price would be $175,000

We would leverage 2 of our other rentals as collateral for the down payment and get a commercial mortgage on it. The apartment building is in a super desirable area in our town and it's rare that they go up for sale.

What does everyone think?