You get negative 24300.  

Certainly we all need to vent sometimes ;) I don't mean to negate your struggles, but I hate to see people frustrated with what is a fairly common event in real estate.

Insurance seems low.Your management number doesn't seem to include leasing fees.I don't see anything about property taxes in here, which is going to be one of your largest expenses.Closing costs seem low.Most importantly you've got 20K available and you're looking at going almost half a million dollars into debt to purchase a negative cash flowing asset (I assume $3800 includes hypothetical rent from all units) at what is likely the top or near the top of the market.That's a huge amount of risk to take on to save $650 a month in living costs in an absolute best case scenario.

Statistically they have data that shows past a certain time things start going out in a domino affect as things start failing allover.

One third of the U.S had a NEGATIVE net worth.

I expect that nationally we might have another mortgage crisis and a double dip recession, impacting prices negatively.

It sad to hear so many negative things about PMs because Im starting up my own company now.

In Heathen's example, if you borrow up to 75% from property #1 so that you can buy property #2 at 85%, you have turned on property with positive cash flow into 2 properties with negative cash flow.

Our office are in Atlanta but we have Area Managers in Buffalo and Rochester that head up our construction crews as well as Attorneys, Agents and Property Managers that make up our team of professionals.Regarding other negative posts, I would hope that people would understand that there are two sides to every story.

Those points alone send shivers down most investors spines; we're following for multifamily potentials but don't feel the potentials outweigh the negatives yet.