Should I go in knowing it’s negative cash flow?

[Simon Obas]

Planning on purchasing a triplex. There are two tenants already living in the house. Market rent should be $1000 per unit but one tenant pays $650 (and is month to month). The other pays $800 and signed a 2 year contract that expires January 2021. Mortgage will be $2300 (insurance price is included).

I plan on house hacking but I have to honor the tenant’s rental contract. I will raise the other tenant’s rent to $1000 ASAP. I am looking to get my first deal and stop paying rent ($1905 a month). Would this purchase be a bad deal knowing that I would have to come out of pocket $500 hundred dollars a month— and then raise the rent on the other tenant as soon as her contract expires? I plan on living there for a year and then will buy another home and house hack again. Please let me know your thoughts.