I suggest that you use BP's Rental Deal Analyzer, there are other expenses that need to be considered.

Fellow BPs,I need help analyzing my 1st deal.Multifamily 4 Units (1 bedroom - 2 and 2 bedrooms - 2) located in a small income city:Listing Price: $100,000.00Down Payment: 20.00% (assuming)Annual Interest Rate: 4.00%Gross Monthly Operating Income: $1,880.00Total Monthly Operating Expenses: $1,469.93Monthly Mortgage Payment (PI): $381.93Acquisition Costs and Loan Fees: $2,000.00Cash on Cash Return (ROI): 22.37%??

I also think you need a little research on the real estate market, know the trend and analyze the market to find out if waiting till the prices of properties go down before making another investment really worth it.

We lost out on a  4-unit because it wouldn't pass the FHA inspection and the seller didn't want to be responsible for disclosing the issue.Assuming you plan to keep this in your portfolio if/when you move, just make sure you analyze it based on being an owner occupant, as well as the both units being rented. 

Hey guys!New to the game, but have researched for a few months. Decided to get creative and just took out a HELOC (closed yesterday) that I'll be using as a down payment to purchase my first buy & hold with. I was...

I am look to buy my first Multi Family deal and was hoping someone could help me analyze this deal to insure it cash flows.

I'm currently analyzing deals here and Jacksonville and also be to real estate investing.

I am haopy with the deal but would like to see what others think as far as risk return.The unit is a 2 bedroom 1 bath, 900 sq ft, 450 sq ft storage space, balcony, in unit washer dryer, outdoor parking, brand new paint and carpet, with appliances that are far from new but good condition.I analyzed the deal using the rental rates others are getting in the complex and subtracting all of the known expenses.

I have a question about the process of analyzing deals for my first property.

I think my biggest hurdle right now though is finding properties to analyze, and knowing which ones are worth analyzing.I think I should probably be talking to an agent and seeing what they can help me find.