Is this a good investment for a beginner? 7 Unit MF

[Mike Baldwin]

I am looking to take a leap of faith into a property.  Does it sound like a solid choice to be a long term hold.  It's in a class C neighborhood at best.

Property has 7 units all rented with good history.  Property is 3 parcels that has 3 sfh's and 2 backyard duplexes.  

Current rent income is estimated at $4,000/mo.  Taxes for year are $5500 and insurance is still unknown but figure 2-3000.  Maintenance cost I'm aware of is lawn and that will probly be 100-120/mo.

Asking $350,000 for whole package.  I have $100,000 to put down and can get hard money loan for balance with intent to refinance within 12-16 months.

Buildings are all 60-80 yrs old but in good shape.  Has been maintained.  Tennents have been in place for 10-25 years and would like to stay.  Rent rates are below market 20-25%.

Does this add up to a decent property worth investing in.  I don't see the property itself appreciating much over the next 10-20 years so it would strictly be for rental income.

I appreciate all and any input.