Opinions and Insight on First Possible Deal

[Isaac Young]

Hello everyone,

I am a 20 year old college student graduating this May. For my first building, I have my eyes set on an 11 unit building that is for sale at $400k firm. The numbers look good, especially for me living in it. I would live in the cheapest apartment as a single living male, who really does not need much right now. Most of the expenses are given by the owner, who seems very honest and upfront. Of course due diligence would be necessary, but for right now, these are the numbers and they seem on point.

Included are two screen shots, one at 10% vacancy, and under repairs 15% (including 5% CapExand 10% Repairs). The second is a more conservative view.

The owner is willing to finance up to 15% of the purchase price, meaning I would have to come up with $40,000 for my 10% of the down payment. I'll have $10k to play with in a few months, and I can gather the other $30k from friends and family. I just wanted to get people's opinion on this deal. I am new to the realm, and my goal is to invest in multifamilies 5+ units, with my end goal getting into the 50s+. Thank you for your time everyone, and if you have any advice, feel free to PM me!

P.S. - The down payment of $10k is my investment, with me paying the others back for their investments. So I essentially said I would owe $390k.