First deal! Two duplexes

[Bernard Sanga]

Hi BP!

First deal! I just got an offer accepted and I am now finalizing the contract. Deal came off MLS. I just want to share and maybe get some feedback on the numbers and what to do next.

Its a quad plex. Purchase price is 288k. Current gross monthly income is 3160. Its currently an 8 cap with 12% cash on cash.

I ran my numbers with 5% vacancy, 10% Property management, 10% maintenance and 5% capex.

Is there anything I am missing here?

Also, what are important things to look at during due diligence besides the usual property inspection, get current leases of existing tenants, get financials?

Thanks in advance everybody!