First Investment- SFR

[Stephen Oakley]

Hello All, I have been researching for 8 months or so and looking to pull the trigger on a single family in a college town. It would be my first investmebt property purchase! It was just rented this August for a year at 1,500 per month as the previously tenants paying 1,400 are moving out. My agent said will need probably 20k in work within the next 5 years, hvac, sewer pipe to street, maybe window. It does have a new roof.

How do the numbers look to you guys? Should I wait for a better deal? I had multiple offers on multi family but all fell through. I plan on managing this property from a distance but have family in the town where it is located.

Thank you very much for reading and your thoughts! Steve

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