to be some upside that I am missing in my valuations:Purchase price:  495,000Units:                      16Rental Income:      8,400/moDown:                    20%Down:                    100,000Closing:                      6,400Repairs:                    16,000 (assume 1,000 per unit)TOTAL INVEST:     122,400Costs:  Debt:                  2,800.00 (6%)   Taxes:                   690.00  Insurance:            200.00  Sewer:                   800.00  Heat:                  1,200.00  Yard:                       40.00  Garbage:              300.00  Cap Exp(3%)        252.00 (Lower than I normally go)  Repairs (5%)        420.00 (300.00 per yr/unit)  Mngmnt (10%)    840.00  Vacancy(7%)        588.00  Screening              40.00 (tenant screening)TOTAL COST:     7,600.00 (rounded)Monthly CF:          800.00 (yikes...…...50.00 per unit!!)

I am looking at a property (triplex) in a B- neighborhood with very good schools around and very low crime. 

@David Harley I agree with Heath you are low on your expenses. $812/month for rent in that area also seems a tad bit steep, unless they are extremely nice units.

I also recommend reading Brandon Turner's book (buying rental properties with no and low money down), and just continue to save as much as possible. 

Appraisal comes in low?

PricewaterhouseCoopers and the Urban Land Institute ranked 78 US Real Estate markets for overall prospects in 2019.Dallas-Fort Worth has been named the top real estate market to watch in 2019Why Dallas…Low cost of livingLow cost of doing businessTax efficiency Population growth rate is projected to be more than two times the national average in 2019.Top 10Dallas/Fort Worth, TXBrooklyn, NYRaleigh-Durham, NCOrlando, FLNashville, TNAustin, TXBoston, MADenver, COCharlotte, NCTampa, FLDetail Reporthttps://ulidigitalmarketing.blob.core.windows.net/...

So far the experience level of the people I have met there has been pretty low which I understand that they are there to make contacts and learn (everyone needs to start). 

IE. heating system, roof, windows?

Also Condos Tend to be the last to rise and first to fall when markets change, FL is highly volatile, especially condos, so unless you buy WAY under market, your risk is pretty high especially if you want to get out at a low point in the market.   

The challenge is this would be my first home I would ever have put an offer on and there is a lot of interest in the house already since it is such a low price for the area.