GOOD DEAL? Please TELL ME BEFORE I INVEST!

[Yousef Reda]

Okay location is in a small CITY!, however looking at the microeconomics and the city seems to be appreciating  slowly per year. The vacansy rate is around 2-5% over the last 3 years. Here is the numbers.

Rooms: 6 bedrooms 2 bathrooms

Tenants:

3 tenants

Unoccupied rooms: None

Rent for tenants:
2825$/month = 941$ each

Average yearly Income: 34, 200

Property Listed Price: @$299,000
Offered Price: $290,000

EXPENSES

Taxes: $1722 per year = 200

Insurance: 200
City water 150

Lawn 160$

Estimate for Vacancies: 5% 142.5
Its actually 5.2%
Repair: 7% 170

Property Management (10%) 285-> She told me she can have a friend watch and care for the property for me

Mortgage: 5% down(14,500) at 2.3% for

1206(adjusted)

Expenses total: 2228.52$/month

Cash flow= 596.48

NOI: 7157.76

ROI = NOIx12/14,500 = 49%

Okay guys so Looks like my Cash flow and ROI is GREAT. Please confirm I did numbers right. The other thing is this will be an out of state purchase. Thirdly she told me she has an older couple friend to care for my real estate who lives in the area and is reliable.

I dont want to miss out on a deal since everytime I find one someone steals it from me!! Shouldd i trust her friend to watch over property.