Hesitant to jump into my first deal?
Found a townhome in a great location of Pittsburgh that overlooks the city. They are asking $380k for the property and the sellers are willing to finance the deal with no money down and 4% interest rate. Motivated sellers, they have been trying to get rid of the property for 4 years.
The property currently has a tenant that pays $2500/month plus the utilities & water. Taxes are $6,823/year.
Is this a good first deal to jump on? Does anyone have advice on the numbers? Will it be enough cash flow for a first deal?