First investment property: (CT)

[Aaron Ram]

Hi there,

I just joined this website and it seems to have a wealth of info. Here are the details for the property I am looking to invest in and my financial status.

Property Type: Single family
Bedrooms: 4 bedrooms Baths: 1 and 1 half baths
Buy price: 180,000
Downpayment: 20% (36,000)
Taxes: 6391
home owners insurance: 500-600

Mortgage calculator: $1,306.00 (30 year conventional)
(at 4.5% interest rate | this calculator included HO insurance)

I rounded the mortgage with other expenses to 1,500
so that would give me a net of 18,000 / yr
Am i missing any expenses or do you think I rounded to low or high?

My Credit: 750
Income: 130,000
Rental income for this property: $3,000 (firm)

I would like to get other opinions on how good of an investment this is. If I did move forward, it would be my first investment. At the moment I am not concerned with selling back the property. I would just like to concentrate on cash flow. So with respect to that being my main objective, what do you guys think?

My short term goal would be to buy 3 of these between now and the end of next year. producing a cash flow of 40,000+

Very new to this so please let me hear it.

Appreciate any feedback or assitance.

Thank you,

Aaron