Closing on a deal

[Robenson Exume]

Hello all,
Here is my problem for you smart people at BP. I am about to close on a apartment building. Here are some of the detail. Price=$475,000 Income=115838/yr. It appraised for 485k. The expense is 55360. Cash flow is about 12k/yr. Cap rate is about 10.5. The math makes sense but I am just tad bit petrified most of it is probably because I am a newbie and negotiating with people who are a lot smarter than me and not to mention they have a lot more experience. What makes the deal sweet is the owner is carrying a second for about 80k and the rest will be covered by the bank. So, is this a no brainer?

[Joseph Ball]

You are a newbie, and you are buying a $475,000 apartment building?

I think I might learn to fly. Could I start SOLO with that 747 on the runway, over there?

Start small. (My opinion.)