First time looking at Multi-unit for a Buy & Hold

[Cynthia Hanke]

Hi all, this is my first post! I currently have 4 SFH and a condo, all rented & flowing smoothly. I would like to find a 2-6 unit multi-fam, in Central Ohio. Going to look in Mansfield today. The one that sounded good until applying the 50% & 2% rule looks like this;

Asking $229k. 6 unit, grossing $2805 yr. Updated,needs nothing, LT renters.

Financials show $4398 taxes, $1282 ins., $5,049 utilities.

If I get it for 200k, 20% down, finance $160k @7% (don't know actual % yet)for 30yrs., and take the 20% cash from my HELOC that my other properties are using @2.99%, does this cash flow? It's my first time utilizing the 50% & 2%, and just discovered BiggerPockets, AFTER having bought my other real estate, by reading, learning on my own, and dumb luck.

[Robert Blake]

Don't forget that cash flow is NOI - Debt Service. That's a pretty important part of the equation. ;)