Newbie Seeks Advice From Investor Sensei!

[Lauren Apicella]

Looking at purchasing my first rental (Go Big or Go Home, Right??). These numbers came from the current owners Trailing 12. What do you think of this deal? What am I Missing? 

# of Units: 12

Purchase Price: 880,000

GOI: $128,378 (Already assumes a 5% Vacancy Rate)

Taxes: $24,250

Insurance: $3164

Management: $6,419

Grounds Maintenance.: $1,800

Repairs: $3,000

Electric: $817

Water/Sewer: $12,522

Alarm: $730

Trash: $2,196

NOI: 73,464

PITI: $5,623 (25% down - 4.5% INT)

Expenses: $27,500/year 

Cap: 8.35%

COC: 14.9%

GRM: 6.85

Thank You!!