Just starting out. Little to no money down.
I'm just starting out. I've stumbled on a fixer uper 3 unit. Two units are 1 bed 1 bath, one unit is two bed one bath. After purchase and repairs I estimated I'd be roughly 40k into property. Its a cheaper area and I believe gross rents will be $1,400 to $1,800 monthly. My estamateded value of the property after rehab is probably 50 to 60k. I know the property is cheap and not worth much in the end but is this property worth considering? My ultimate goal is to build up rentals that generate monthly income. I know I still have more homework to do but this low of a price has me skeptical, however I do not have much to put down which is why I'm looking at this one. Thanks for any help you can offer.