Atlanta house hacking!

[Eugene Beard]

I would like to get a analysis of this property im thinking about buying. I feel like i may need some insight. I will explain what I am thinking and I would like your honest opinion. this will be my first property. Im tryign to get into the game but get in right. MY focus is to live for free in my first property. Here are the numbers:

Purchase Price:175,000

Repairs:14000

Type: Duplex

unit 1: 2 Bedroom/ 2 Bathroom-850(or 2 CL ppl for 550/month each)

Unit 2: 3 Bedroom/ 2Bath-Me- lower bedroom and lower bathroom$freeski -1st Craiglsit Renter 1 bedroom 1st bathroom $450 second Craiglsit renter 2nd Bedroom same bathroom-$450

Mortgage Info: Total Loan amount:189,000 Interest rate: 3.25% Down payment: $1,000 Taxes: $1426/year($190/mo), Monthly mortgage payment:$868/mo

Home Insurance: Around $160/month

Expenses: Vacancy,Capex,Repairs,@8%($160 each) Total: $480/month

Overtime Expenses: Lawn service $60/month, Management fees@10%($200), No HOA fees

Neighborhood: C Area around neighborhood:B+ The Location is in Norcross Nearby Harbins Road and Highway 85 in Gwinnett County in Georgia

total income could be from $1600-2000

Additional expenses would be providing cable ,water and electric for craigslist tenats and they would not be as stable as a regular tenant.

About 12 properties in the neighborhood need work(yard, car on blocks, ppl hanging outside,etc.) has about 25-30 properties in entire neighborhood. Local rent around the area jump up towards 1100 for 3 and 4 bedrooms and max ive seen for a 2 bed room is 950. Average is about 800. Im talking within a 1 mile radius. I figured I make more money renting each room out instead of the whole side as one to actually cover expenses and im nervous with the neighborhood i will get top tenants even tho the property itself is really top tier. At least on my side for sure I need a renter so either CL or a Student from a nearby school will be interested. The Rental Market is Hot in this area but I believe my worries are still valid. I will self managing and cutting the grass keeping up maintenance while i live there. I also plan on buying other quad plexes and duplexes in the area and fixing those up as well. from bad landlords and calling the police trying to cut out the loiterers, and making sure code enforcement come by on other properties. Im willing ot invest in the neighborhood cuz the area is great but I feel like Im buying my property at its peak and overvaluing with repairs needed and it will drop in the next couple years and never come back up to 200K especially since just last year the neighboring property sold for 110K it was a slightly older duplex with 2 bed/1 bath on each side but still.

I think its an okay deal that can go either way. Its not a BAD deal but not a great one either. The goal is to live for free and with the numbers(without someone on my side with me ) im just shy. should I keep looking?

Tell me what you think.