4 SFR Deal Analysis

[Gabe L.]

Hello all,

I have found a distressed landlord with 4 SFR for sale as a group . He claims he must get rid of the properties asap due to financial hardships. 3 of the 4 are currently rented for 450/month and the 4th needs paint and a good overall cleaning and has past rents of 450 as well. He is currently asking 140,000 for all, but has made it clear he will take less. After taking an inspector through the properties, I plan on offering 100k

Here are the financials...
-100k financed at 7% for all 100k (commercial loan) = 665 P&I
-Gross rents $1800/month
-should be around $100/door profit using the 50% rule

Am I missing anything?

This will be my first investing deal so I want to be careful, but I think I've found a good deal. Please share any helpful info you may have! Thanks and have a great night

Gabe