First Deal Advice: Cash deal in Indianapolis Area

[Josh Bast]

Hello!

Wanted to get some feedback on if this is is an investment you would do...this would be my first deal...and I am new to this world, so go easy on me!

Acquisition cost: $22K

Refurb Cost: $15K

Total Cost: $37K

Expected Monthly Rent: $625

Management Fee (I am based on Minneapolis): 10% - $62.5/month

Annual Taxes: $398

Funding via borrowing most from 401K ($29K @4.5% interest, 60 month term) and cash/0% interest loan for 15 months.

Thoughts? Risk is obviously the management company not putting a tenant in or issues with tenant. Refurb will basically put in new everything.

I know I am probably missing a ton of info or not thinking about something...

Thanks in advance!

Josh