Would you buy this triplex + duplex?

[Aroldo Villarreal]

I'm considering buying this multifamily deal, but don't know if the numbers are good enough. I know multifamily is evaluated differently than SFRs, but don't know much about it. Below is the owner's description:

I have owned this property for 9 years but now living out of state. Unit produces $3100 + laundry mat income has separate meters. Duplex units are large 2/2 units occupied, triplex includes 2 large 1/1 units and an efficiency. In nice quiet neighborhood, I lived in one unit for a few years before I got married and really enjoyed it. *** just did a total remodel on duplex to include all restrooms including tile throughout and new kitchen cabinets and granite counter tops**** Asking $220,000. *** will consider owner finance ***

He is willing to owner-finance and below is what he emailed me:

            Monthly of $325.73 

So, from what I see, assuming that I get $200/month of laundry (is this too much?), I would be left with $1,586.77, minus 30% of vacancy, repairs, and cap ex savings, I get $1,110.74 of cashflow/month. 

Assuming I pay $6k of closing costs, I would get 39.8% COC return.

This seems like a great deal, but I'm new and I know that I'm missing something. Please dissect this and let me know I'm missing. 

Thanks in advance!

[Aroldo Villarreal]

@Brian Gibbons I have neither. I am looking for a good CPA in San Antonio though. I had never heard of a CCIM.

@John Hamilton I will ask him for the books and take them to an accountant, once I find one I want to use. As for the lawyer, do I just google RE Lawyers? 

I don't know if there's anything owed on the equipment, didn't ask him and never crossed my mind. 

The loan would be for 30 years. The vacancy is maybe one month a year per unit, if that. I would be managing the property myself, but should factor in property management just in case I want to do that for the future. 

Thanks for all these great questions that slipped my mind!