Are we in danger of over leveraging?

[Sarah Albert]

My fiancé and I are currently in negotiations on a triplex and the inspection revealed some unexpected repairs. With the cost of repairs and the down payment, I’m wondering if we are in danger of over leveraging ourselves. Hopefully the kind people on this forum can lend us some advice. We have $50,000 in cash to spend on this property up front. The down payment plus estimated repairs is about $48,000. That would leave us with $2,000 of savings if anything comes up within the first month. One unit is currently rented, leaving $200 for P&I costs each month. I also work full time and we’ve been able to save $1000/month. The property is a good deal. Our numbers show $400/month cash flow. So should we go for it or is it too risky? Thanks!