First Deal Ever - Need more eyes on my analysis.

[Brad Cornell]

Hey All!  Big shout out to all of BiggerPockets for being AWESOME!

So I'm working on my first  every deal here in Northfield, Minnesota, and have analyzed this thing to death.  So instead of running the numbers for the 20th time, I thought I'd reach out to all you great people and get some other eyes on this one to either confirm or deny if I'm crazy.  I'm hoping if I lay out the data, ya'll can tell me if I'm missing something or if this is solid!  Thanks so much in advance!

INCOME

EXPENSES

I have researched the local rental rates pretty extensively using Craigslist and Rentometer and feel that my rental income numbers are pretty solid. 

Other Facts:

• Built in 1969
• Off market sale
• New Roof in 2007
• Plenty of off street parking
• All 4 units have separate access and a common laundry area
• Not sure yet if I would end up with instant equity

Any feedback would be greatly appreciated!!!

[Jason D.]

I agree with @John Woodrich about expenses and financing. Your down payment is too low for and investment property, your interest rate seems low as well, and be sure a 30 year term is a possibility. I feel that your vacancy reserves are also low, at least for the first year. I try to have 1 month reserve by the end of the first year, so I budget 8.25%.