Looking for feedback on a potential first property (househack)

[Ream Kidane]

Hi BP.  I have a promising lead that I would like some feedback on:

I have been looking for my first deal in an appreciating neighborhood in Rochester, NY

Side by side double 2/1 for both units.

It needs some cosmetic repairs but is in really good condition. The hot water tank and roof are about 9 years old.

Rents are currently 800 and 950 but are slightly below market.

It will be owner occupied (by me). I am estimating the owner wants to sell it for 165k, which he could likely get easily if it reached the MLS. Although I don't anticipate that the neighborhood will see the kind of appreciation that it has over the past few years, the house should at least retain it's value.

It should cash flow positive at 4% vacancy, 7% for repairs, 10% capex, and 10% property management (although I will try and manage myself). The CoC is pretty low but I am eager to get started. What do you all think about paying close to retail for a first property?

It's a sellers market and there is a lot of competition for multi-families.  The last property I bid on went for all cash above asking price.  

Here is a link to the report.

https://www.biggerpockets.com/calculators/shared/4...

Thanks in advance!