Teach me how to analyze this random deal

[Luke Carl]

Well. It's to graduate to multifamily. 

Found a random 10 unit. 

Monthly Numbers

Rent: $7400 

Insurance: $811 

Taxes: $524

My questions: 

How am I financing this thing? 20% down? 

What banks do I call and what questions do I ask? 

Has COVID effected loans on such a property? 

What purchase price would you need to make this work and why? 

I've outgrown Duplexes help me learn how to get bigger! 

Thanks 

[Bjorn Ahlblad]

@Luke Carl Renting at 750/unit it is likely a C+ in an inexpensive area or a dump in a big city. Insurance will be 4500/yr, taxes 6000/yr. Sewer and water 6000/yr. Vacancy/unpaid rent 20% for now, maintenance 400/mo, capex 600/mo. Reserves 50k. You will need 25% down, net worth equal to loan amount, and a track record. I'd be a buyer at 550k at this time and depending on location.