12 duplexes for 1.7 M. Details inside! Good deal?

[Joe Partington]

Hey all,

I sent out direct mail to multi-family rental owners in my home town trying to find a few properties to buy.  An older gentleman called me back and wants to sell 12 duplexes for 1.7 M. He is 75 and is tired of being a landlord.  Each duplex has the same layout 2bed/1bath with attached garages.  Newly shingled roofs and all duplexes are located in their own sub-division.  Each unit rents for $750 and with a little work could easily be bumped up to $800-$850 imo.  Tenants pay all utilities.  The mortgage/tax/insurance is estimated at around 11k and the duplexes would bring 18k per month.  22/24 units are rented right now. A little info on  me.  I'm 28 and a residential contractor.  I own two duplexes, one in which I owner occupy. I manage 10 units on the side for a relative as well so I have a little experience and would do all repairs and property management myself.  I think this is a good opportunity.  I realize the time commitment 24 units would take and it would be a grind but construction and real estate are my two passions and I'm willing to do whatever it takes to make it work. I need to come up with the down payment which is 20%.  I would appreciate any advice or questions you have for me!  The picture up top is one of the 12 duplexes.