Hello, I'm in northern MN, and looking into getting into investing, and am looking for some advice.I'm looking at a 4 plex locally with 4 2b 1ba units.Cost is $160k, but I think it's worth closer to $180k.Yearly Rent is $26,760.I would use my heloc for down payment so basically financing the whole thing.Love the locationHas 1 lifer(been there 7 years) the current owner has not raised rent on in a while and I probably wouldn't either.Taxes are $3000Tenants pay electricAverage local income is $35K with average house price is $138,582.Seems like even @ $165k I'd be doing pretty well.I'd self manage, and fix issues, but from what I can see, there are not any pressing CapX's needed.Not sure on cost of heat yet.Any other info needed?

So are we talking a few hundred a month on average

Ceiling texture removed, ozoner used, industrial deodorizer, kilz primer to seal, new paint, all flooring except tile in bathroom and kitchen removed, it had no heat ducting.  

Average 3 bed house in a decent area is fetching $130k+ (if not rented). 

Outside of numbers I will also look at the area and see what the unemployment rate is and if the median income can support 2.5x's the average rent amount I'm seeking after the purchase - I also look at the competition's rates and quality.

The lender will average in two years.

You see like many average Americans My finances are in a small mess, but I’ve just gotten my income tax return and paid down some credit card debt, so I want to use this breathing room wisely.

@Ricardo SabogalWhat I mean is there is a lot of gray area in some of these rehabs, and unless something is specifically mentioned in the contract, it becomes a matter of "whats industry standard".  

They are not as easy to sell if you need to unload, average home appreciation over time is typically 4,7%, townhomes 3.4%, and condos are even lower.

The average cap in the area is 6-8%.How do you account for cap ex?