2 bedroom 1 bath 4plex in tower district of Fresno CA

[Brandon Markos]

Hello community! I am looking at a deal and wanted help analyzing it. The price has been lowered twice by about 10,000 each time to 249,900 now. It is a 4 unit comprised of 2 bedroom 1 bathroom. It looks to me that the rents are about 700 each. I am thinking of using an FHA loan and living in one unit while renting the other 3. I would have to put 3.5% down totaling $8,750. Closing costs I am estimating at $10,000. My monthly Mortgage payment would be just under $1,300. After a year I will move out and be able to collect rents for all 4 units. I believe there may be room to increase rents although I am staying conservative at 700. If I use the %50 rule year one I should cashflow $100 a month. After year one I move out and collect $800 a month. These are not the great returns I have been hoping for, but in CA it looks pretty good to me. Please give me any thoughts and feedback you have. Rip this deal apart if it is no good. I appreciate your time.