Triplex in NC - Help me analyze this deal

[Lester Hess]

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Good morning BP.  I could use some help on a deal I'm considering in NC in a nice small town near Raleigh.  The property has a 1045sf, 2 BR, 1.5B SFH and a duplex with each unit containing 2 BR, 1BA.  The duplex units are currently rented at 800 ea. and the SFH at 900.  Lease for one unit is up 1/21 and the others 5/21.  All tenants seem great and want to stay.  Property is in good condition.  Rents are below market for area.  I would manage the property.  COC Return is not great to start, but if I raise rent 5% annually for first 3 years to get them closer to market rent it will improve to 9%.  Property is zoned commercial so future opportunity for other uses.  I would finance with a 30 yr. conventional mortgage with 25% DP.  Would have a partner and would draw half of my DP from a low interest HELOC. I'm in negotiation with seller and hoping to get sale price down to $365k- $375, but included worst case in my analysis.  Appreciate any thoughts as this is my first investment property.   Thanks!