Potential Real Estate Deal

[James Charlot]

I have a deal that could start my venture in real estate investment that I love, but I'm not quite sure if it's good or not and would like some help from some gurus here at Bigger Pocket. 

Details:

PROPERTY(S): 5 Residential Units / 1 Commercial

PURCHASE PRICE: $575,000

Loan Amount: $427,500 ($402,500 Rehab holdback + $25,000 toward Rehab Cost)

EXPENSE DEPOSIT: $3,995

Value at Least: $625,000

Origination: 4% of loan amount – Paid at closing 

LOAN TERM: 12 months w/ 6-month ext 

TITLE INSURANCE: PAID BY BORROWER

Amortization: Self

INTEREST RATE: 10.99% 

I/O LOAN: $3,912

The property cash flows $7,315 and my expenses would be $6,509.08 = $805.92 (income) 

FYI: RE-FI would be 5% either on a 15 yr or 30 yr loan 

I have to come up with $172,500 as well as $17,100 for closing & $3,995 Expense Deposit = $193,595 

If I can have a second pair of eyes on this deal to help me with any concerns that I may not see. Thanks! 

PM for any questions.