Crunching the numbers

[Jayson Hinkson]

I am going to the bank to get pre approved for my 4th loan.  I am looking at a duplex in South Carolina.  List price is $169K (reduced 10K last month) with one side rented at $900/month (2bed 1.5 bath). Other side is the same and would rent for the same amount.  The property last sold for $85k in 99.  It has been listed for 60 days. The owner is out of state I am considering offering $120K to make my net each month around $1200.  I am assuming this with a traditional loan with 20% down.  Please let me know what everyone thinks.