Need Help Evaluating A 9-plex

[Stanford Neal Mead]

Good evening, BP. My wife and I need some help evaluating a potential investment property in my old hometown. Here are the basics, please let me know if you have any additional questions and I’ll do my best to answer: 227k purchase price, 9 units, 4800 gross monthly rents, needs 60-70k in repairs, 350k ARV, the possibility of additional income from an on-site coin-op laundry facility ($250-300)... those are the nuts and bolts. We’re considering an FHA 203k rehab loan, and are planning to self-manage initially. Please let me know what you think!