Brand new and ready to jump right in. Any advise?

[Ryan Kempkens]

Hi everyone,

I've been soaking up all the info I can get my hands for about the last year .I came across the Podcast about 6 months ago and love it and this site is awesome and has inspired me to start taking action!!

I am originally from the Detroit suburbs and am now living in the Wheeling, West Virginia area and work just outside Pittsburgh. I would like to invest in both the my old home town and my new one.

I found a duplex that I'm going to put an offer on. I love to hear some insight from everyone here if this seems like a good deal or not.

I'm offing $42,000 and estimate I'll need to put $15,000 more into it. Each side has 2 bed 1 bath. The units where renting for $350 each (they are empty now)after the improvements I expect to rent them for $550 to $650 each. I used the 50% rule and gave it a ten cap to come up with the $42k. Does this sound like a good deal, anything I should know before I make this offer I might not have thought of heard about?

Thanks in advance for your input and advice