Analyze this deal on a 3 unit property

[Eric K.]

3 Unit Multi Family Property: (1) 1BR, (1) 2BR, and (1) 3BR

Total Sq Ft: 2,596

Built in 1920, fully renovated from top to bottom including new systems (according to the listing).

The area is an average middle class neighborhood with several single family homes and many multi unit properties. 

Listed Price: $294,000

Unit Rents according to seller (factoring heat/hot water paid by landlord):

1BR (3rd floor) - $750

2BR (1st floor) - $1,150

3BR (2nd floor) - $1,250

Total: $3,150

Annual taxes: $3,778

Annual insurance (estimated): $1,600

Annual utilities (estimated): $3,600

Annual maintenance: currently unknown

Estimated mortgage: 

(Assumed paying the listed price, with 0% down VA Loan)

$294,000 @ 4% 30 years, $1,404

This would be my first real estate purchase. I currently rent an inexpensive apartment and want to buy a multi unit property. I know I can get approved for something like this, based on my income and my DTI.

Concerns: I believe the stated rents are a little high. I actually live very near to this property and a friend of mine owns several properties in the same neighborhood (definitely bringing him into the process to help guide me) and for the sake of this deal analysis, lets assume that it's possible the rent total of $3,150 could be $300 over current market rents. It's possible that they aren't but consider this as a possibility for now.

I am a veteran and can utilize a VA loan with 0 down. I have top tier credit (score over 765). I currently don't have a lot of cash for a down payment (recently paid off a student loan).

What are your thoughts and analysis on this deal? My plan would be to live in the smallest unit of this building (the 1BR, so technically you could remove $750 from the total monthly rents to compensate for this).

Even with only counting the 2 larger units in the numbers, I figure I could break even after the mortgage, taxes, insurance and utilities are paid, which means all maintenance costs put the monthly cash flow in the red, unless I could buy it for less.