[Calc Review] Help me analyze this deal

[Cheryl Hewitt]

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*This link comes directly from our calculators, based on information input by the member who posted.

I found a property that I believe sounds good on paper. I have not seen it in person yet, as it's over an hour away. It's a single-story, brick 4-plex (8 beds/4 baths) with full basements, that was built in 1987. It's in Illinois, and I'm in Wisconsin, so I'd need to hire a property management company. From the pictures, the place looks to be in good shape. Three of the four apartments have new stainless appliances, flooring, and fixtures. I do not know the age of the roof, HVAC, etc. I have used 8% capEx and 5% repairs, and $10K for repairs (updates to 4th unit) and will adjust after seeing the property - if it gets past this initial phase of number crunching. For the rental income calculation I used HUDs fair market rent for this city. 

Additionally, this property is 7 minutes from the Wisconsin-Illinois border. Recreational marijuana will be legal for all adults in Illinois beginning on January 1, 2020. I'm unsure if, and how, this may impact real estate properties.

To date I have one SFH and I'm looking to expand into multifamily buy and hold.

At this point I'm wanting feedback on how realistic my numbers are or aren't. What am I sugar coating? 

Some pictures of the property: 

TIA,

Cheryl