8 Unit in St. Louis County

[Danyal L.]

Hi Community! 

Disclaimer: This is my 1st Question. Don't hit me too hard. ha

I am purchasing my 1st 8 Unit Apartment building that is is 2 bedroom and 1 bath each in St. Louis County. It is considered a C- area. My goal is to hold for 5-10 years then flip it. Also, the property only has 1 unit occupied due to no property management and the seller just old and got tired of dealing with it for the past 22 years. The area is not a booming area but it is close to schools and lots of shops. Please see the Specs below

Purchase Price: $100K

NOI: $21,800

Before Tax Cash Flow: $15,500

After Tax Cash Flow: $14,100

Future Selling Price: $255,000

Cost of Rehab: $30K

Money Down (D/P): $20,000

Potential Rent: $525-$650

Current Renters: $500

This is my 1st mulit unit/apartment building. I am a little scared as i don't want to fail. All feedback is very appreciated!