first multi family, do these numbers work?

[Julian L.]

Hello all! 

I'm looking at purchasing my first multi-family deal.The numbers look good (I think) but I'm nervous on the location... it's literally in the middle of no where. A small town (population 250) and the nearest metro area is 45 minutes away. 

The numbers:

They asked $300,000 and I got them down to $270,000. 

Total monthly income: $4800 - 2 units are vacant (potential of $5700 fully rented)

Total monthly operating expenses: $2525 (numbers are averaged out from 2012 - present)

15 year mortgage at 4.8%: $1500

Total expenses: $4025

Cashflow: $775

This would be a no brainer if I could get it fully rented @ $5700... however in a small town I'm not sure how doable that is.

Thoughts?