First time investor seeking advice on an opportunity

[Chase R Roehm]

Hello all,

I am looking to be a first time investor in Illinois while living in Iowa. It would be a multi-family home with two units (two bed / one bath, each). For now, the numbers I'm anticipating are as follows:

Purchase price: $80,000

Current rent: $625/each

I'm looking for opinions on if it seems like a reasonable deal or not? How to approach the seller about it in order for both of us to walk away happily?

Thank you all in advance!

[Darius Ogloza]

It would help if you penciled out the expected monthly costs, including whether landlord or tenants pay all or some utilities.  Also, how is the ocndition of the property?  As a rule of thumb, $1,250 rent on an $80,000 purchase sounds promising.