Help with numbers on my possible first deal

[Mike Murphy]

Hello everyone, I wanted to see if I could some oppinions or maybe a couple to run the numbers for me. Here is what im looking at:
2 duplexes on 2 seperate properties, but are one in front of the other. Im hoping to get these owner financed, but the deal is getting a little stale at this point. I was thinking if the deal is good enough, I may try to sweeten the pot a little. They are in what I would call an average blue coller area.Not great but not terrible neighborhood.
Numbers:
-Purchase price is 130k on the pair (no money down at this time)
-Taxes are $3600 yr
-Insurance is $3400 yr (can this be right?)
-Rent is $700 for two and $650 for 2. The two that are $700 are section 8 and paid directly to the landlord.

I would do all the managing and work on them. But they are both in good condition and I didnt see anything they needed at this time. Also, I dont know if it is possible, but there is also a decent garage that could be rented out that is fenced in and has a sperate meter.

What are your thoughts?

[Brian Levredge]

There are always closing costs. It's just a matter of who pays them. They won't be nearly as much as if you were going the conventional financing route, but you will still have 1-2 pts in closing costs. You will also have a home inspection as well, which will add to your out of pocket.

It honestly doesn't look like a bad deal for you, but I really don't see why the seller would basically give you the property without any down payment or skin in the game unless they just want to get out.