How do my numbers look for this property in Baltimore, MD

[Tom Saysithideth]

Hello BiggerPocketeers,

Looking into a potential property for rental income cash flow. Here are some numbers I put together:

Property Cost: 300,000

Mortgage: 1250/month

Rental Income: Unit1: 850/month Unit2: 900/month Unit3: vacant

Property Tax: 5800/yr

Property Insurance: 60/month

Vacancy: 63/month

Repairs: 100/month

Cap Ex: 100/month

Down Payment: 10,500

Closing Costs: 10,000

Concerns arise about house hacking to get an FHA loan, and staying for a year not making any positive cash flow. This is a 3 unit multi-family, and estimating the 3rd unit will rent for 800/month once I move out of the FHA loan. Interested in hearing the forum's feedback on the numbers and property.

Thank you,

Tom

[Tim Jacob]

Id say pass on not getting 1% in Reservoir Hill. Push east towards Charles Village, Station North, and Old Goucher and you can get a better deal. Near the same amount with rents over 1000 a month for a 1/1 and much more for larger. Also there will be unreimbursed water in Reservoir Hill and your vacancy is low for there. Maintenance is low for Reservoir Hill as well. Your tenant base will be worse than Charles Village but they are charging you the prices you will find over there. Not a good deal.