Tri plex on large lot with potential for duplex

[Lance Peterson]

Hello all, my first post so please bear with me. I've been listening to the podcast for awhile and just started reading these blog posts and was hoping for some advice. I am planning on doing a house hack on this for at least one year and then holding for as long as possible. Asking price is $175,000 and I was thinking of offering $170,000 plus seller assist on closing costs. Rents total $1825 (3/2 rents for $750 and then 2x 2/1's rent for $550 and $525 respectively) could possibly raise rents by $25 a piece in coming year. 3/2 is also vacant currently but I would occupy this unit. There are two sheds on the property rented to the tenants for storage but I am waiting on information on those. Estimating 10% vacancy, 10% repairs, $100/month for water (paid by owner), 10% management fee (I will self manage at first but not forever), and $277 for property taxes. I'm calculating my monthly cash flow to be a little light at around $205 a month which I know doesn't meet the $100/door rule. I have a loan offer for 4.5% 30 years at 20% down but I was going to shop around and see if I can do better (I have the cash for the downpayment but I also have two VA Loans counting against me for debt to equity ratio) House was single family converted to three units and is on a huge lot that selling realtor claims could fit a duplex which interests me a lot. Selling realtor also claims that a large shed on the property could be made into a 1/1 apartment but I don't see that. Income from those two sheds aside. Is this a good deal or am I just getting antsy because I need a place to live?