Advice on a potential first deal

[Aidan Mulligan]

Details

Property: Triplex

Asking: $179,000

Bid: $150,000

Down: 5%

Interest: 4.9%

Term: 30 Years

Payment: $756

Vacancy: 8.33%

Expenses: 5% repair and maintenance, 5% misc, 8% Property Management, taxes, insurance, ($648/Month)

Rent currently in place: 700/year, 650/Year, 350 Month to Month

Cash Flow: $154/month

Community

Pop Growth: 7% since 2000

Median Household income of $38,000

5% down is based on current savings while keeping a good amount in reserves, I could go 10% with a partner if the forum thinks 5% is impossible. 8% management fee based on a local management company posted pricing. I plan to use Cozy to self manage and will switch if I feel that I can't handle it.

The property has been on the market for 49 days and was originally purchased in August of 2018 for $100,000 which probably means it was a flip. Is a $30,000 discount unrealistic? I feel like the worst they can do is reject or counteroffer.

What do you all think, "yeah sounds legit" or "That's far from realistic"

[Aidan Mulligan]

@Dennis M. thanks for the help “bro”, never said it was a good deal, but I know well enough to not only invest on cash flow alone, the area matters too because I’m not making the bulk of my money on the cash flow, I’m making it on the sale in the future. So from what everyone has been telling me it’s a balance between cash flow and area. If the area goes to hell and your property loses half it’s value then you’re kind of sunk.