Is this a decent deal?

[Ali Ahmed]

Hi, I am new to bigger pockets and I am really enjoying the content this website has to offer. 

I currently got into a contract for 2 fourplexes and need help deciding if this purchase is worthwhile or not. The reason I am in doubt is because insurance for each fourplex is costing 150/ month and this takes a hit on my cash flow.

I am cleaning out my accounts to put 25% down on this. Conventional loan 30 years at 5.35%

Purchase price 305k each

Taxes 3600 (big lot) & 1800 

Insurance 150 each

Management fee 200 each

Hoa 250 each

Management fee 200 each

Mortgage (P&I) 1263 each

Total expense = (1263*2) + (200*2) + (250*2) + (150*2) + 300 + 150 = 2526+400+500+300+450= 4176

Gross Rents 2600 & 2800

Cash flow = total expense - gross rent= 1224 ( about 612 for each multiplex or 153 per door)

Based on the webinar I attended by Brandon from bigger pockets recently, he looks for anywhere from 100 to 200 per door in positive cash flow. I think it will be a little lower than 100 if I were to factor in vacancy factor and capex. 

I appreciate if you could let me know your thoughts as I am in the 10 day wait period and can pull it off if this is going to make me spend out of pocket.

Thanks in advance.