[Calc Review] Help me analyze this deal in South FLorida

[Alexander Celestina]

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Hi BP:

I wanted your help in analyzing this deal. This deal came to me through mail marketing. A duplex sold for $375,000 in same area, but had extra 200 sqft. Idea is for me to live on one side and rent the other. This will be my first investment property using an FHA loan. I was very aggressive with expenses, 5% for expenses, 10% for cap expenses and 3% for vacancy cost. I will manage property myself. I proposed seller to also do a 3% Sellers contribution towards closing cost. So all I would bring for down payment is 3.5%. Current market rents are at least $1800, might get a little more. Also on of the units (the one I am planning on living in) has a pool. Inside needs some work.

Thanks,