14 unit in rural Georgia

[Giovanni Pisano]

This will be my first multifamily and looking for some advice/guidance. Would you purchase a 14 unit consisting of 7 duplex's in rural Georgia?

The numbers look great so far.  Asking price is $320k and units are rented for $500+/- with only 1 vacant at the moment.  Tenants pay electric and owner pays water and garbage at about $900 per month.  The condition of the units are decent. Could use updates but not needed.

My concern is that it's about an hour away from a major city (Columbus, GA). Population growth shows a slight decline since 2010 and the crime rate is below the national average. The city currently has about 850 total residents.

Another concern is finding a good property manager.

Lastly, how you recommend financing this?  What type of lender should I look for?

Thank you in advance.

[Marc Rice]

@Giovanni Pisano

Seems like a 1% rule. Columbus, GA is a decent sized city. You should ask a property manager what he thinks of the location. You should walk the properties with a contractor also.