Renting out my first home

[Joe Fornasiero]

Looking for input on if this would be a reasonable investment. I purchased the home with a RD loan and have lived there for 2 years. Everything is brand new with the exception of the furnace. (Used slightly lower maint. and capex to account for this) My plan would be to purchase a owner occupied multifamily property (FHA loan) next to rent out the other units and save additional money to repeat the process again. I believe I may be able to get $1,350- $1,400/mo. but wanted to use conservative numbers. I'm currently house hacking this property and have one room rented out at $500/mo.

Purchase price: $136,500     Current value: $160,000

Rent: $1,300

Vacancy: $65
Maintenance: $100
Capex: $100
Mortgage: $636
Taxes: $220
Insurance: $30
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Cashflow: $150/mo. 

COC return: 11% ($1,800/$16,128)

Total cash invested: $16,128

$6,128 into the deal plus a new septic field at $10,000.