Am I over thinking this?

[Paul Corbisiero]

HI BP community. 

This will be my first multi unit purchase.

Im in escrow on a 3 unit, 3 single 2bx1b homes on one lot.

purchase 225k it needs 150k in rehab per rough estimate from contractor , 2 rent @ $1100  and 1x $1200. this seems to put me over 8% return after refi.

down side the units are old 1938. unit 1 is half way through full remodel down to the studs, 2 and 3 are complete but old, some siding repairs/dry wall, paint fixtures and carpet..My fears

1. I would have to pay cash to get into it.$375k  

2. tying up my money for to long.  Then refi out 6 months after If i cant refi right away if rates are not to high. 

3. pandoras box of problems with homes this old rehab cost going up past my budget.

4. AVR will be trash due to market.

Talk some sense into me lol