Need advice on 4plex first posable deal
I am looking to make first possible deal, I have been watching this 4plex for the past 6 mths, patiently waiting, Originally listed at 179000 three mths ago dropped to 169000, and just recently posted at 160000, property is 4 units two are 3bed 1bath and 2 1bed 1bath looking it as an owner occupy. Due to my job as a merchant marine, I only spend 2 to 3 mths a yr in the states. And pretty much homeless for last 3yrs. I have a pretty good size down payment prob as much as 35thou but after reading these post for last mth or so have decided to put about 10%down. Im humble guy dont need much plan is ill take a 1bed 1bath. And rent other 3 apts. OK so here are the specs on the property completly rehabbed. New roof, furnace, water heaters, electrical, hardwood floors, tile in kitchen all in all nice interior rehab. Curb appeal not to desirable, also close to railroad tracks. So these are my numbers based on a 150000$ offer. 1 bed rents for 500 3 bed rooms rent for not much more at 700 possably 750 we will stay on conservative side for a total of 1900. 800mth morgage, 200mth taxes, 190 mth prop mang, 175mth insurance (est), 190mth vacancy,150 mth repairs and maint. After subtracting all exspences i come up with positive cash flow of 325 per mth and free apt for myself. As an owner occupy plan on staying 1 yr and starting process over again, which in 1 yr give me approx 200 per unit. Side notes property is unique as it has 4 sep water meters tenant pays although I will have to monitor knowing that it is lienable, also township is uniqiue as it charges each individual resident for trash removal. Im just hopeing numbers make sence. I would hope to make an offer before someone else and miss out. I have been looking at propertys for past 6 mths this just seems to stand out for some reason. Also how offensive is it to come in with a low ball offer at 125000, after I have contacted agent at 160000 he says 3 or 4 people showing lots of interest but im sure they all say that. Also i know zillow does not inspect interior of houses but there estimate apprasiai is listed at 148000 how much does that play a role in negotiating factor i know this is a lit long. I want to be sure im covering as much as posable and ill be making the right move. IM a little anxious but want to be smart at the same time. All advice is appreciated do I make the move. If I didnt mention heat is electric tenant pays, gas is hooked up to property only 1 unit tenant pay. No common utilities. Also I dont know how often something happens such as this. Agent offered to mang property if I did make an offer. Not sure if that would be a conflict of interest being the fact that he is working for the seller. But I did ask a few ques as how many he is currently managing his response not to many about 8, I had a little rapport with him asked if he enjoyed it his response not really. (Red flag). But i live right around the corner and it would be easy to manage.(thoughts). Thx you all. Deal or no deal.