Debt service would be at about $9,886.Based on the expenses provided it would be a great deal but having the conservative approach, being that its a small multi lets assume 40% for expenses.Income- $22,620Expenses- $9,048NOI= $13572Debt Service- $9886CashFlow= $3686/ year, $307.17/ month, $102.39/ unitAny feedback will be helpful!

Hi Tanya, check out Klasic Property Services. 

Be very careful of service animals and fair housing law, the fines are harsh.

I would say its tougher these days to find easy flips in the multifamily space, but if you are looking to buy/hold for rental income you can cash flow about $1000/mo (after debt service) on a $500,000 building (4-6 flat) in several areas.  

@Michael Muro Typically there are two types of coaches/mentors out there.1) will charge $5k - $50k for their services and will help show you the ropes, maybe provide you with some "proprietary" spreadsheets or software, and give you encouragement along the way.

May want to chat with your bank about it.As far as the rental home, your accountant would have assigned it a value when you put it in service as a rental.

In that case you might need to find a different lender or send them the trust for review, if your trust attorney is good they should be able to provide support services for free and give the bank a call to explain the situation.

@Gary Clisele Also you will be paying servicing fees every month on every note you own that is boarded with a servicing company.

They may be able to refer legal counseling services for this niche.

You can utilize a service such as IMAPP to pull comps, but if you don't have a subscription it could be costly..