Going to be hard to evaluate but w.ould love input

[Benjamin Timmins]

Looking at a 4 unit place. Rents are 450, 550, 500, 650. Ill be living in the 550 one. Will be getting it for 95k. The 95k is coming from selling property my family own, we all get a share (its conditional, cant string it along. Pick what you want, and thats what you get if you know what I mean. Its not a huge sum and its being split according to my fathers decisions.) So I can't go spilt the 95k to buy multiple properties.

Tenants pay the electric. I pay the gas/heat/water, which gas averages around 500 during the winter months.

With me living in one unit, it will bring in 1600 a month. The property taxes are 3800 a year (will drop a tiny bit with homesteaders).

What do you all think? 

[Bill Jacobsen]

I added $1,600 in insurance, $2,000 for gas, $5,000 for maintenance and capital reserves, and $960 for vacancies.  I end up with net income of $5,840.  If you add the value of living rent free at $6,600 you get $12,440.  Even though you would have to manage it yourself that is good value for a $95,000 purchase price.

Good luck.

Bill