Let me know what you think about this deal.

[JT Crownover]

Working on my first deal. Would love to get you guys opinions. I will be acquiring 15 units SFD at $60,000/each. They will be new construction. Around 1000 sq ft each. 3/2 and 4/2 units. We project rentals rates to be around $875/ month. Looking for any criticism you guys can come up with. Here are the numbers:

Appraised Value $80,000.00

Loan Amount: $60,000.00

Monthly P&I: $490.25

Interest Rate: 5.5%

Amortized Over: 15 years

Vacancy $43.75 (5%) 

Repairs $87.50 (10%)

Insurance $61.25 (7%) 

Management $61.25 (7%)

P&I $490.25 (56%) 

Property Taxes $61.25 (7%)

Total $813.75 (93%)

Thanks,

JT