Opportunity to make deal on five apartments

[Michael Andrews]

After years of doing my own remodeling and hiring myself out and recently inheriting about $100,000, I have decided to dive into real estate to put both skills and money to good use.  

In my initial search I have found a package deal of five properties being sold by the existing property manager and owner. The properties have a track record of full tenancy for years going back, and the asking price for the five properties is $443,000, monthly rents are $5,745, totaling $68,940 per year. Assuming I put down 20% / $88,600 I would potentially be looking at a PITI of $2138 per month (according to various mortgage calculators), and factor in 6% / ~$350 property management fees per month, 5% / ~$290 savings for repairs per month, 8.3% / ~$475 for vacancy savings per month, and 7% / ~$400 CapEx savings per month I come up with about $3650 in expenses. This would give about $2095 in gross income per month.

My fear is that I won't qualify for a traditional mortgage considering it is a group of properties, so I imagine I would need to find an alternate funding source like cix.

My question, does this look like a good deal to go all in on for a first shot at becoming a real estate investor?  

[Andrew Johnson]

@Michael Andrews I'm a little confused, you say that it's "five apartments" but also that it's "five properties" so are these five condos?  A five-plex?  Five single family homes?  A duplex and a triplex?  Depending on what they are will help you understand what kind of financing that you need.