Deal Anaylsis for this commercial property

[Orkeem Davis]

The property is a 3 unit - store front, 1st floor 1 bed bath, and 2nd floor 2 bed 1 bath -- $1500 monthly income.  The owner owns free and clear and willing to carry mortgage. 

I offered full asking price of 125k with 10% down @ 0% rate for 8 years 

Security Deposit - $500 

Financing $112,000

Principle - $1186

taxes -$300

insurance - $81

Monthly payment - $1567

Rent rolls can not to changed or increased for another 6 months.  After 6 months, I will more than likely receive an additional $400 to $600 in rent increases, but not guaranteed.  Rents are really low and still waiting for Contract approval.   Appraisal will be a little costly, but required from me to know value prior to closing.   Closing costs, down payment, appraisal will cost around  $18,000 to $20,000.  Is this a good deal for me if approved?