Owner Occupant 4-plex Advice

[JP P.]

Hello BP folks, I would like some advice on potential property, here is my background and details.  I would move out of my current home and live in 4-plex

Currently living situation is SF home

1. Mortage - 1,000 (with HOA and rounding up on mortgage)
2. Potential Rent - 1350 (1300-1400 low to high season)
3. Likelihood of renting w/in 45 days - 70%

Potential 4-plex

1. selling price - 220,000 (would only do deal if they would come down to less than 215,000)
2. 3 occupied/1 vacant rent - 550 on month to month (1,650 p/mo);  current tenants are long term tenants;  rental market calls for 750-800
3. HOA - optional at 360 p/mo
4. Would purchase with 5% down ( 10,750)
5. I would do a 15yr loan to pay it down sooner
6. Appraisal is probably 230k. Will it appreciate? maybe at 250k in 10yrs or stay the same
7. And if I purchase this place my cash reserves would only be 5K max (and then I would be spreading that across 5 units)

What are you thoughts, understanding I will need to do more of a due diligence to confirm this is truly a good deal.  I feel like the numbers look good especially if/when I raise the rent to the market value.  And I would use savings on lower out-of-pocket and profit from SF to pay down principle on SF, then work to pay down principle on 4-plex.

Thanks,

Jeremy