Ohio four plex multifamily - Initial Offer and Analysis

[Tommy DeSalvo]

Hello BP! I've made multiple offers this year, and I've lost on all of them, either to higher bids or all cash bids. Not much I can do there, but I just put in a new offer on a property and I would like to see how my numbers hold up to peer review. The more eyes on the deal, the better. Without further ado, here are the numbers:

This is a banked owned property. Originally listed at 104k. Price drop last week to 99,900.

At 99900 it has a cap rate of 12%. 

I'll be offering 65k, I'll have a FHA loan, and I'll need a 203k for about 15k for rehab.

I'll need 2800 down. 

Monthly Mortgage payment of approx 550.

4 x 1 BR units. Will rent for 525.

Gross income: 25,200

After 50% rule and mortgage that leaves about 6k yearly profit, or $125 profit per unit per month. 

The AMV will be around 160k. 

Thoughts? Are my numbers way off? How much does everyone think I can come up without losing too much cashflow? Advice?

Thanks for your time!