Advice on rental properties

[Ali Samana]

Hello everyone,

I am looking to buy some rentals here in CC, TX. I came across a deal that I think I am going to move forward with. I wanted to run it by here to make sure I wasn't making a mistake. I do think I agreed to pay too much.

The deal is for units (4-plex and a duplex)
They are 100% occupied with the total income of 2600/month
the owner pays water (300-500/month)
He wanted $151500 for them. They do need some work from my standards, but if they are already rented then it wouldn't matter that much.

I offered him 140k with him repainting all of the outside on both buildings (we told him what color). There are also some electrical units that are going to be replaced (just faceboards ertc)

So, shortly here are the numbers again.

Purchase Price: 140K
Total Rent: 2600/month
Utilities: 3-500/month

Is this a decent enough deal to get involved with?

Thanks in advance for your help.