Should I purchase the 7 unit multi-family?

[David Dale]

Hi Guys,

I am a fairly new investor and I am looking at purchasing a 7 unit apartment building. It is located in a mid-sized regional town with a good employment base. I am more familiar with SFR, so I am somewhat anxious about jumping into multi-family. I am curious as to what potential hurdles, deal

Issues you think I may run into on this potential purchase.

The details are:

7 unit building

5 - 2 bed 1 bath

2 - 1 bed 1 bath

Total rent is $4500 per month with tenants paying utilities.

Purchase price is $425k.

I have a community bank that will let me do 10% down.

Nice appreciation area for single family homes, but I’m not sure of the market for investment properties as it is a smaller town.

Thanks for the feedback.

David