Need Help For a New Investor

[Don Grevelding]

Ok I am very new!!!! My wife and I are trying to work out our first deal. We found a seller of 6 properties with 12 total rentals. We are doing our due diligence and found that only 2 of the properties are in what we would consider the good part of town. The seller is willing to seperate the 6 properties and sell us just the 2 that we consider ok. Her are the numbers.

House 1 sale price $70,000 rents total $1700 taxes $3500

House 2 sale price $110,000 rents total $1900 taxes $4000

by my numbers Iam showing a positive for a conventional 10 year mortgage at around $500+

for 20 years around $1000+ 

am I missing something? 

We are just really nervous obout our first investment and dont want to screw it up. My the way we are from Onondaga County in New York if that helps. 

Thank you 

Don and Carrie