Need advise on a 5-unit in Charleston
I've been searching the listings an putting out a few offers to get my feet wet. I stumbled across a deal in Charleston for a 5 unit for 480,000 with a cap of 7. The seller rents one unit out to a tenant year round. The other four are rented to students that attend the local military college for 4-5 months during the summer. After expenses, the annual income is around 27,000. The area is a little ways from the actual Charleston town area. The agent just informed me that the seller will take a cash deal of 290,000. I'm still fairly new to this. Can a more experienced investor inform me if this is a potential deal or a dud? Thanks