Quadruplex Analysis

[Account Closed]

All, the following analysis is for a quad for which I just put in an offer. I've read the blog posts regarding the evaluation of properties and what each metric analyzes - I know what all of these mean, but I'm not sure as to what is considered "good," besides more money in my pocket. At $331/mo, how does this seem? Is this even correct? Specifically on this deal, would you mind giving a thumbs up/down, while also offering some ways to sweeten the pot/things to look for in another property? Thanks.

Info - 

Using a VA + Renovation loan (renovation wrapped in), therefore 0 down, no PMI, assuming $10k (conservative estimate) in improvements.

Currently rents (total) at $2k, will increase to $2200 if my deal is accepted. 

Utilities = water only

[Brandon Hall]

I disagree with the above posters saying your cash flow isn't enough. True, it could be better, but according to the model you built, you are 100% financing the purchase (not including closing costs and improvements), so of course your cash flow is going to be small as the mortgage payment eats your cash flow.

I will say, it doesn't look like you accounted for cap ex which may put you in the red. If you think about it, your cap ex over the life of the property will be equal to your depreciation due to smoothing/normalization.

It also looks like your total cost to get in is $204k, you are financing $200k, but your cash outlay is $14k, which doesn't add up. Cash outlay should be $4k.

Have you been quoted on that 4% interest rate? I'd make sure to get an accurate quote there.