Pricing out and think I found my first deal!

[Garrett Hayes]

I have been pricing out multi family housing and found a 3 unit in for closure for 70k from the bank. The unit is  in a c- to a c+ market need some reapirs(under 15k on the high side) and other rentals are going for 750 a month with just water included. What I can't find is the vacancy rate and haven't look at insurance rates for the area yet. I am looking for where I can find the vacancy rates for the areas. Also if when you buy a Foreclosure from a bank is the loan processing time shorter then a normal mortgage processing time? This is my first deal I have looked into in more depth and if I would go thru with it I have enough cash flow to cover owning with no tenants for as long as needed.

If anyone has any more info that would be greatly appreciated.

Thanks 

Have fun!