[Calc Review] I think I found a great deal

[Andrew Bondarchuk]

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I think this is a good deal, but based on the numbers I've input into the rental calculator, it looks pretty bad. I feel like I am overestimating what it would cost to hold the property, but I'm trying to be very cautious as well. I would hate to miss out on a great opportunity because I literally have no idea what I'm doing, but I've got to start somewhere, so I'm hoping I can get some advice - maybe I'm overthinking this or maybe I'm missing something huge. 

I'm looking at a multi-family property listed at $161k. It has 4 units: 1 unit is a 2/2, 2 units are 2/1 and 1 unit is an "Efficiency Studio" (I think that means it's very small). I've checked into comparable rents in the area and estimated across all units that I could get around $2,500 in monthly rent if it is fully occupied. If I come in around $140k, put $10k into renovations, hire a property manager at $200/mo. (is that realistic??) and put away $500/mo. to account for CapEx and monthly maintenance, it feels like I would still cash flow at around $500/mo. Am I way off base here??