Newbie Analysis of my first deal soon to close

[Matt R.]

purchase price 30k

25% down @ 5% 30 fix

3 plus one SFH built in 1954 new roof, ac, windows, ktichen cabs, counters

1000sq ft

Corner Lot 9000+ sqft

700 garage/steel building shop..ran test ad for this alone seems $180

House rents at 750 to 850...I ran test ads plus reserched Market-PMs

Section 8 is around $900

Needs $3000k carpet,paint, vinyl, misc use home depot cheap stuff

Wells Fargo Appraised $44, 500 arv

I have team for maintenance and pm if needed.

From the 24 hour test ad. I have some pre screened tenants.

I think I can manage this if the tenant screening is solid.

Out of state property in an area where my buddy has been investing for a few years prior. This is a town of 150k slight pop growth. I have a decade background in market research and management. I am ready to get another.

Should I move on it or go slower. This is my slower season so I thought it's ok for me time wise. I am new but not exactly green. Perhaps, the most seasoned newbie you have met. Here are some numbers as I understand.

Cash on cash 80%

CaP 28%

Something I have not seen put this way. EOP equity on purchase.

Is there another name for that?

How soon can or would you heloc that for the next one or dip into funds?

Any suggestions? Concerns? Out of state the obvious..

The plan is to buy, hold but would be game for adjustments.

Thanks again,

Matt