Need help analyzing 6-plex

[Matthew Fitzgerald]

Hey BP world put an offer in on my first property. Just wanted a second set of eyes to take a look. Found an off market value add deal in a B- neighborhood with a C+ property. The price we offered is 150k against the sellers 165k. It's a 6 unit, 4 1/1 and two studios. Rents total 3150 and 5 are below market. Monthly cost 1742 ( tax, insurance, PM, vacancy, cap ex, repairs, and utilities.) This total is based on sellers numbers. We are using a HELOC to pay cash for the property. I figured once we get a mortgage that will add another 750 to total. Making us roughly 600 per month. Once we get rents to market value we should be getting 200-250 per door. We want to hold this property long term. I could use your thoughts and input. Thanks again.