[Calc Review] Help me analyze this deal

[Michael Sylver]

I'm considering a 4-unit condo complex.  Its brand new construction, rented to the local university (1 year leases) for scholarship students.  I modeled the numbers (below) with 20% down, however the cash flow is tight.  I could do 25% down to provide extra cash flow per month, which I would eventually reinvest into mortgage pay down.  In my previous duplex, once my reserves would hit $5k I would then pay down the mtg.

This is an a growing area outside of my local mid-south metro.  2 universities, military base, and new battery plant (being built) plus a local boom of transplants in the mid south.

Asking price is $840k however it just came to market, so not sure how much negotiating room.

Would love to hear thoughts and opinions.

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*This link comes directly from our calculators, based on information input by the member who posted.