Interested in a property

[Dion Jacobs]

Hello everybody:

I am new to the real estate world and seeking advice.  I am trying to purchase my first rental property.  It is a 4-plex for $65,000.  Currently, all 4 units are rented and the total rents add up to $2,265.  1 tenant has been there for 20 yrs, the other 5 yrs, and the others about 2yrs.  The tenants pay their own electricity.  The landlord pays the water, which comes up to $2600 annually.  Also, the landlord pays about $360/month for heat.  The taxes are $4600 per yr.  I plan to hire a property manager, who charges 9% of the gross rental income.  Do you all think it is a good deal?