Louisiana Newbie looking for advice on 1st deal

[Derek Prejean]

Hello BP,

Looking for advice on a 5 house package. Two houses are 1b/1b, two houses are 2b/2b and the final house is 3b/1b. I would love to hear your feedback and to see if I am missing anything.  The bank would give me 5 percent fixed rate for 20 years with 20% down.

Purchase price: $250,000

Total Monthly Rents: $2750

Annual Insurance: $5000

Annual Taxes: $1000

All five house are currently rented and tenants pay all utilities. I have not been in the houses yet but from the outside they look to be in pretty good shape. I have been researching rents in this area and I think their is room for increases. Please advise as to whether you think this is a deal worthy of evaluating further.

Many Thanks,