New member ready to start!

[Kevin Starkey]

Hello everyone my name is Kevin Starkey and currently a Law enforcement Officer in Indiana and new pro member to BP! I have been studying real estate and following BiggerPockets for about 4 years now. I have been kind of stuck in analysis paralysis and keep passing on deals. Well I came across one that I am curious on everyone’s opinion, the number make since but my biggest concern is vacancy for this property.

The reason vacancy is my concern, it is in a very small town(approximately 2500 people), the next closest city is about 10-15 min away of about 55k. That city has the potential to grow due a rich city next to it is growing aggressively fast, but at this current moment the city is not in a great financial situation.

The property is a 6 units apt building in decent shape.

Listed price of 119k and has been on the MLS for over 200 days.

5- one br one bath units rents for 350

(Usually don’t like 1 br, but in this small town I think it might be better for filling)

1- three br 1.5 bath unit rents for 750

All units separately metered

All units are currently filled with everyone on month to month lease and one unit has a live in maintenance employee.

Taxes are approximately 2300/yr according to the accessor.

Any advice/concerns would be greatly appreciated!

Thanks again, I am so excited to finally officially be apart of this community!

K. Starkey