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Updated about 5 years ago,
First Deal Analysis and Professional Opinion needed!
Hello, I am closing in on my first real estate deal in Butte, Montana and would love any input! I am graduating May 2020 with a degree in civil engineering. I have gone over 50+ multifamily properties that could be an owner occupant scenario and have decided a certain 5-plex. My questions are: Is starting with a 5 unit building too large? (What was your first deal size?) The of the property is 325,000 has a monthly expense (Mortgage, Operating costs) of 2200, but has a monthly rent of 3500. It was built in 1900 and has had an incredibly strong rental history considering its location to campus and the hospital. What type of things should be checked for due diligence? I am leaning towards a VA loan as well instead of FHA. Any thoughts or opinions would be greatly appreciated.