This looks like a good deal but Im new to this!

[Toni Holland]

I am new to real estate investing and am researching which niche I'd like to play in... I have been thinking about investing in a MFH and living in one of the units since my family and I happen to be in need of new housing anyway. I found this property on loopnet.com but it seems too good to be true:

5-unit property for sale $369,000 (7,000 sq ft - 1400 sq ft each unit)

3 BR / 2 BATH APARTMENTS; LIVING / FAMILY ROOM, KITCHEN; DINETTE WASHER DRYER HOOK UPS; CENTRAL AIR & HEAT
2012 GROSS INCOME: $55300*/NET INCOME: $41298

Note:Gross income includes $900 month for apartment # 520 which is currently occupied by manager (manages several complexes for owner) for which currently no rent is paid.
PRICE $369,000
CAP RATE 11.19%

So, I imagine the manager would move out since the owner would no longer own the property which would allow my family and I to move in. I would be interested in a FHA loan but to my understanding, because its 5 units it is considered a small apartment and wouldn't qualify, right? OK, All chips on the table, I have no money saved! I really just started looking at investing (wholesaling since little to money is required) but this seems like a better cash flow opportunity. Any advice? Is this even a good deal? or should I just look again when I have some money to put down.

Thanks!!