[Calc Review] Help me analyze this deal

[James Bavaro]

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

Hey everyone, 

25 year old Orthopedic Surgery PA in Staten Island, NY, looking to garner my first investment in the world of real estate. I had been looking for properties around the area I currently live, but very few make sense in regard to the numbers given the current state of the economy. So, I came across this property which is by the university that which I attained my masters in medicine. 

Purchase price: $140K

% Down: 25% (I am considering pitching the investment to a friend and making this a cash purchase - any advice regarding this decision is much appreciated!)

Currently occupied by a section 8 tenant on a year to year lease. currently paying $1805

Cash flow = $800

- I left out some CapEx expenses in the report, as this is a newly renovated home, but will account for everything once I dive deeper into this potential investment. Would have to consider the expense of a property manager, as this property is about a 1-hour drive from my current location.

- Seems to be absent of any major internal issues. New hot water heaters + roofing. Valid CO. 

-  Low-income neighborhood (lots of section 8 tenants)

- Very close to hospital and nearby highschool. About 10-15 minutes from the nearest University and about 20-25 from the University I attended.

Thoughts on this property as a first investment? Any and every form of feedback is much appreciated. Welcoming the good, the bad, and the ugly!

Thank you.