6 Unit Multifamily - 1st deal

[Philip Marsh]

I have an opportunity to buy a 6 unit multi family. I have run the numbers multiple ways and feel like it's a good opportunity. 

I am not 100% percent sure how to analyze this property so just looking for some input or advice.

I've always thought if I was going to get into rental properties, I would start with a small multifamily.  This may be that opportunity.

Some of the details:

Asking price is 115k

One unit is occupied.  The rest are vacant.  

Each unit needs carpet and paint only.   I'm thinking roughly 3k per unit for repairs. 18k total give or take.

He showed some income statements when the units were filled. He was getting $450 per unit.

There is a 2 car detached garage with a coin operated laundry room and a storage room.  

He rented the garage spaces for $25 each.

Storage room $25

roof is shingled and about 10 years old. 

$5100 property taxes.  A little high. I think I could get those lowered.  

I have the money for the down payment and am approved for the loan.