1st purchase - does this make sense?

[Scott E.]

I am looking at purchasing my dad's house as he gets ready to move into a retirement center and was looking for an opinion on my simple financial proforma on the house.

I am a first timer and normally would not be looking at a full retail value purchase, but it is my dad.

Finance - $164,500 @ 4.5%	$ 10,008
Maintenance	$ 2,400
Insurance	$ 1,641
Taxes	$ 1,372
Rent	$ 18,000
Net Profit	$ 2,578
NOI	70%
DCSR	1.26

Any thoughts would be greatly appreciated.