Is this Multi-Family Brrr analysis sound?

[David Lengeman]

Hello All,

  I am new to BP and real estate investing. I love the podcast and was able to get my wife hooked also! We have rehabbed/ flipped both of our personal houses and we are ready to move into houses we will not be living in. 

Does this seem like a sound deal? 

Purchase 6,000 SF mostly distressed single-family house. Convert into 9 units (township limit) for $665k (purchase price + rehab), Must appraise for $890K to be able to get a loan on the place and for me to pay back my investment. Cashflow after all expenses is $3400 pm. 

Is this a feasible deal? I am not familiar enough with how multi-fam units work, but I feel it might be an opportunity I do not want to miss out on either. 

Thank you!