Really struggling with this 19 unit purchase- Please Help!!

[Stephen Jones]

Hi BP family,

Please help me breakdown this 19 unit deal! I am really struggling on whether I want to pull the trigger on this or not. This asset is right down the street from where I live so it will also be very convenient for me, even though I will still have to get management involved. Here is the simple breakdown-

Yearly Rent Roll- (incl. laundry)- 202,900.00$

Yearly Expenses-

Mortgage Payment (w/ taxes & Insurance)- 114,000.00$

Management Fee (already in place)- 18,000.00$

Utilities- (water, sewer, Trash)- 13,000.00$

Estimated maintenance & repairs- 9,000.00$

Notes- 

- Located in an up and coming city with a population of about 30-35k people.

- In Illinois

- 8 units newly remodeled 

- 9- 1BD/1BTH

-10- 2BD/1 BTH

- Washer/ Dryer hookups in each unit

- Roof is extremely old

- Building built in 1980

Any feedback will be greatly appreciated! Please let me know if their are any questions! Thank you.