Quick Deal Analysis - Quad question

[Jason Abbott]

Hi All,

This will be our first purchase in real estate and we are going to use our FHA to buy a four unit building in Tampa, FL.

Is this a good deal? What am I missing or should I consider? Could I use my FHA on a future purchase and put 25% down on this?

- $215,000 sell price; 700 - 750/month rent, 100% occupied,

- New roof,

- Low B, high C valued property

- Average Cap rate between 8% and 20% in region

- Crime in area looks to be not too bad, but there is some.

Thanks for the help!

Jason