NYC House Hack! Looking for Feedback!

[Kadeem Howell]

Hey BiggerPockets. Looking for feedback on a 3 family in the Bronx. We currently only have an accepted offer.

• The house is a 3 family with (2) 3 beds/1 bath units plus (1) 2bed/1bath 
• 3,900 Sq ft on a 2,480 sq ft lot
• Bank Owned Property
• Purchase Price of $550,000 using FHA 203k Loan financing with $60,000 of rehab wrapped into the loan. (Total loan of $588,650 after putting 3.5% down)
• PITI +PMI= $3,588
• Rents in each 3 bedrooms is $2,300, and $1300 for the 2 bedroom unit (We plan on living in one of the 3 bedroom units for at least one year)
• Tenants cover gas, electric, cable
• Annual taxes are about $2,100 and $1200 in annual insurance
• I put 2% ($70) for vacancy, 5% for capex, and 5% for maintenance ($175)
• After a year I plan on moving out and renting the entire house ($5,900 monthly income)

Any feedback would be greatly appreciated!