Purchasing a Multi Family, Am I doing due diligence?

[Christian S.]

Hi Everyone, 

I Found a pretty good deal on a multi-family in hartford. The home was just renovated, so all of the heavy hitters are taken care of: Roof, Electrical, Bathrooms, Windows, Furnace (separate for each unit). It's a 3 unit, with two tenants and one owner occupied that i'll be moving into. The reno was done very well. 

Two questions for investors, or owners in the area:

1) The area is very rental heavy, it seems like a better place to purchase than say West Hartford. What's been your experience getting quality tenants in that Area? Have you had any issues with vacancy?

2) Is there anything obvious I am missing that has been an issue for some of you more experienced investors.(This is my first investment, and I could use any advice you can offer)

- Lower Probability for CapEx with the upgrades made

- Current Tenants Cover Operating Expenses

- Living for Free, and considering a roommate to buffer expenses

Note: I apologize if some of these topics have been posted generally. I'm look for location specific information. 

Thanks Everyone! BP has been great so far