Would you do this deal?

[Evan R.]

Purchase SFR in Piqua Ohio, located in an "A" neighborhood. I am a buy and hold investor.

Purchase price: $23,000

Repairs: $22,000

Total Investment: $45,000

ARV:$68,000

Gross Rent: $750/month

Tax: $900/yr

Insurance: $500/yr

Repairs/Maint: $1250/yr

Vacancy Cost: $1350/yr (I used 15% but probably closer to 9%)

After all is said and done I will have free cash flow of $415 per month and mortgage of $235/month. I will have $180/month in my pocket. I will borrow 100% as I will cash out a free and clear property on a 30yr at 4.75% fixed.

I would like to hear your opinions...