Would you do this triplex deal? Help me analyze

[Jonathan Taylor]

Hello BP folks,

I'm shopping in LA and this turn key triplex came up. I was originally looking for value add opportunities but my loan program is pretty restrictive so I dove in but Im a bit skeptical. My out of pocket limits I set for myself were 1500 since that is what Im paying now. But I could use some experienced investors opinion. 

A few things to note, my loan program does not charge PMI if Im below 20% and they cover most closing costs so those are intentionally low. The projected rents are about 100-200 below adjacent markets as the area does not have decent comps.

What did I miss?

Thanks

JT

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