Is this a good deal?

[Devan Mcclish]

This is my first multifamily deal, so any advice on the numbers would be much appreciated!

Purchase price: 60k 

Financing: conventional loan 20% down, 48k being financed over 15 year am at 5% interest = 379.58 a month 

rent is $400 a unit, 3 units = $1200 a month = $14,400 a year

expenses: $7,800

Property management: 10% of gross rent

Vacancy: 10%

all utilities will be paid by the tenants. 

Property does not need hardly any work. Brand new roof, water heater, floors have been redone, new appliances in each unit, and it has been painted. I have still included 5k in repairs to be conservative.

[Seth Wilson]

DANGER! DANGER!

Week-to-week leases? Are you running a hotel, a flop house or an MFR? Turn over will be high, expenses will be high, vacancy will be higher!

Remember; your business isn't based on buildings is it based on tenants.

Sounds like a weak market and I, personally, would pass. Then I would take my money to a stronger market.