First time triplex offer

[Tom Canterino]

Hi everyone, I was hoping to get another opinion on the below deal. It will be my first triplex purchase. In a really prime location in Rhode Island. On a country club, safe location, renovated 1st and second. Keep in mind there is NO other available multi families in the entire area. FHA RI First Time Homebuyers Program Offer price: $320k Seller Closing Credit: $5k RI Grant Program: $7500 (to be used for down payment) Balance of down payment: $3700 Out of pocket: about $5000 Monthly Mortgage payment: $2340 Monthly Rent (with me living in 3rd floor unit): 2000 but will be raised to around 2250. When I move out it will rent for a total of around $2850. Plus laundry coin op sales - and pet fees and deposits.