Would you do this deal?

[Kory Liston]

Hi everyone, I currently have three rentals (SFR) that have been very good so far and one successful flip under my belt. I am looking at a four plex that I currently have an accepted offer on at $160,000; 40,000 down with the balance carried for 17 years at 5% no balloon. Each unit is a 2 bed 2 bath and would rent for 600-650. It's currently vacant and needs 20-30k worth of work to be completed tenant ready.

After monthly payment, insurance, tax, and utilities that I would have to pay the expenses are around $1700 / month.

It’s a B - neighborhood but lots of new houses going in all around for 300k+. I know the cash flow isn’t great but the fact they will carry at 5% for 17 years is what is intriguing me... what do you think?