Duplex - Looking for my first property

[Brandon Semach]

I have listened to the podcast for a while not but this is my first time posting on here so please forgive me if I do not provide enough information in some way. I am looking for my first property, and would like to get a 4 plex if possible. But I found a duplex for $124,900 that rents for $795 per unit with each unit being 2 bedrooms, 2 baths. Utilities are paid by the tenants. It is located in a duplex subdivision with 7-10 other duplexes around it and there are several other duplex subdivisions around it as well. There area is a good area with good jobs, one of the largest automobile plants in the US is 7 miles away, but the schools are not rated very well. Taxes are $2500 to my knowledge. I have never purchased any properties for myself or for renting and I am able to purchase up to 250k with FHA loan with only 3.5% down so I have been trying to hold out for a bigger property so I can get started with my rental portfolio on the best note, and so I can hopefully grow quicker with a better first purchase. The property last sold on 1999 for 104k. It also had a contingency contract that just feel through and I am going to try my best to look into that and find out why. I am probably leaving out some information, but it just went back on the market and I wanted to ask for any input as soon as I could. Thank you for your time and I look forward to being a member on here.