Analyze my first multifamily deal

[Jonatan Nir]

Hello BP members!

I negotiating for my first multifamily deal. i guess i need some help to analyze the deal. After buying for 4 years only SFR i understand that i can not analyze multifamily deal like i can do for SFR deal.

I will appreciate your help very much!

It's a 16 unit deal. 10 one bedrooms and 6 2 bedrooms.

I will buy this deal for cash.

Purchase price: 657K

Renovation - 80K

Total price - 737k

income: 118,320

Expenses

Tax: 16,188

Insurance: 8094

Utilities: 11,680 

Vacancy: 10% - 11,832

Maintenance 10% -11,832

PM 10% - 11,832

Did i miss some in my expenses? this is the right way should i analyze the deal?

Thanks in advise!

[Jonatan Nir]

I am planning to do refinance after i will see that the property is ok for a while and i will not have any surprises.

Because its my first deal i prefer to be careful more before i use finance here.

Is it make sense?