Help me analyze a deal

[Amar P.]

Hello Philly Folks,

Please help me analyze a deal on a Triplex (3bed/1bath per unit). Please note BP calculator does not allow me to account for FHA loan cost in a correct way. Therefore, I had to increase the purchase price from 520 K to 528 K so that my loan amount correctly reflects FHA UFMIP. As you know UFMIP is rolled into the loan. So loan amount on 520K with 3.5% down and UFMIP rolled into it equals to 510K. Also, the interest rate is higher in order to account for monthly FHA mortgage insurance premium. The rent amounts are conservative. Since it is newly renovated property, I think it will rent for more. I plan occupying just one bedroom. I plan on using tenant placement service. Therefore, I have included 4.2% management fees. I plan on doing property management myself once tenants are placed. Appreciate your input. This would be my first rental investment property. There is one issue with the property. There is about couple feet diameter patch of mold growth in basement foundation (unfinished basement indicating water seepage. There's also some moisture on other spot from seeping water in basement. Thank you.

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