Would this transaction be do-able?

[Sean Han]

Objectives:

To purchase a 4 units multi-family property as an owner occupant primary residence with FHA loan with 3.5% down, and convert my current residence as a rental property.

Current property: Single family 3 beds, 1 1/2 baths. 

Currently FHA loan, purchased in September 2019, monthly payment $2614. I am in the process of refinancing to conventional loan, expected to close in two weeks: New expected monthly payment = $2404, Expected rental income = $2500

Target property: 4 Units multi-family. 

Unit #1 2beds, 1bath, currently rented at $1650

Unit #2 2beds, 1bath, currently rented at $1600 

Unit #3 1beds, 1bath, currently rented at $1400

Unit #4 2beds, 1bath, currently rented at $1550

I am planning on residing in the unit #3, making the total rental income from the remaining 3 units at $4800. 

Considering vacancy, applying 25% off, projected income will be $3600.

Listed Price $540,000, Yearly Property Taxes: $16,500

Finances:

Current Income:

$82,975.52 yearly, /12 months = $6914.63 monthly.

Currently Expenses, showing in DTI:

Mortgage: $2404 (after the refinance)
Credit card debt: $14,000 in one card, monthly payment $140


Savings: $80,000 (In my wife's account)Checking: $15000 (My account)


Latest FICO: 700


I appreciate your input!