Would you pull the trigger on older duplex
I’m considering a duplex and can’t decide what to do. It’s a 1895 home with stone foundation and no sill plate. Slight slope in outer bedroom. Roof was replaced but has serious bow in back area which can’t be reached to investigate. It could use some paint and shingle repair. Electrical and furnace are updated. Needs new toilets, pedestal sink and other odds and ends. Price is $137k, rent should be about $1300-$1500. High rental demand so it should rent quickly. Upstairs unit is already rented by a single woman who has been in it 3 years, smoker with a dog. Tenants pay utilities and owner pays WSG.
Mortgage would be $660. 8% Mgt fee.
Looking for advice, feedback. I have one other single family rental and I’m looking to buy and hold multifamily rentals. This property is a five hour drive from my location so I will probably have it managed. Plus it’s a class c and a so so area.