Tallahassee Multifamily - good or bad deal?

[GERT S.]

Hi everyone,

please check out this listing...
http://www.loopnet.com/xNet/MainSite/Listing/Profi...

Price:$399,900
No. Units:32
Building Size:14,400
SFPrice/Unit:$12,496.88

Is this a good deal?

Looks like there needs a lot of work to be done on the property. The listing says:
"Needs moderate rehab including kitchens, bathrooms, A/C's, floor covering, paint, etc. Estimated cost of rehab $8,000 - $10,000 per unit. We have a commitment for a Purchase/Rehab Loan of at least $400,000 for the Buyer!"

I live in Orlando, so I will need a PM and general contractor, but the listing says:
"We can also refer you to a great property manager and excellent tradesman who'll get the job done on time and within budget!"

Can anyone from Tallahassee please comment if this property is in a good area?

I am still pretty much new to investing in properties. Is this deal too risky for a newbie?

I will greatly appreciate your advice.

Thank you,

Gert.