Review my multi-family deal

[Jesse Fernandez]

Hi all, 

New to this forum but not in the multifamily space, but would love to get you honest opinion. 

I am in a tertiary market (at least for the 25% I can qualify to play in--NYC is a very tight market and you need more $$ than the typical investor). The nuances of this deal makes it somewhat of a risk in my opinion, but would love to get you take on it...here are some of my details:

I have an existing 2 family property in a prime market in Queens, NY. I am looking to execute a 1031 exchange to fund this next and bigger 9 unit deal, most to all of the capital gains would go towards this next deal...

It is a 9 unit in Long Island, NY asking 975K, with 25% down that puts my down payment at 237K.

A NOI of ~62K. My debt is at ~40K, which has my debt service ratio at 1.2 - 1 and this is a VERY conservative number, so cash on cash return is projected to be 9-13% or 22k-30K. 

One of the nuances is that the 9 unit property has 3 STOREFRONTS and only 6 apartment units.

One apartment unit is in a non-payment at court but I would love to get anyone's take on this to see what you all think of it, any honestly or perspective? Also, any insight on investing in a storefront/apartment mixture would be great. 

Thanks!