question about 1st investments

[Marie Skaggs]

Hello! Today I just created my account on biggerpockets! Which is a very exciting first step. My husband and I have found 3 duplexes for sale.  At first glance they look in good shape from the outside. I called to get the price and they are asking $150k each. 4 of the 6 units are rented for another 6 or 7 months and agent said should only need carpet and painting and the kitchens and baths could be updated so you could increase the rent. Not sure if this is something too big to do for a 1st investment? Also how do you go about financing something this pricey for a 1st investment?

My husband and I have some experience in renovating and know licensed people that can help if needed. These duplexes are in a nice area, along a busline and next to a park. So much seems like this SHOULD BE a good deal without considering $ yet, but when I run #s against some of the rules that I hear about on the BP podcasts like the 50%rule it tells me to run. The 4 units that are being rented are bringing in about $2900/month. Any advise to stay or run would be appreciated.

Thanks,

Marie