First potential property.

[Nathan Buss]

Hello, 

I am pretty new to this whole thing and do not currently have any properties however, I have read and learned about the analysis of deals on biggerpockets but would like some input to make sure I am viewing this deal correctly. Any help would be appreciated!

Firstly the type of investment I am talking about is a 4 family unit with recent updates including: flooring, fresh pain, updated electric panels, tuck-pointing, insulated windows, and general maintance items. The seller is asking 129900. Rents for 2000 total. Monthly expenses including PM is 613. Obviously meets the 50% rule but does not meet the 2% rule. This being my first potential property I do not have the necessary means to put 20% down so would be using an FHA loan. This brings the mortgage to about 700 with a 4547 down payment. Obviously I would have to make one of the units my primary resident for a year but for simplicities sake with that aside it is 2000 in total rent-613 for expenses-700 for mortgage=687 positive cashflow. If I am leaving out important or vital numbers please let me know and I will provide this ASAP.

Thanks again for any help!

Nathan