Possible first purchase
Hey everyone, I really appreciate all the great info and advice on here! I'm a new investor wanting to get started in real estate in Bloomington/Normal, IL. I am looking at a duplex with the idea to create a "house hacking" move that Brandon talks about. The duplex was listed at $250k and is valued by the county at $260k range. I had an offer accepted at $220k. I was planning on using an FHA loan to put very little money down. The other side of the duplex would rent for around $1200/month, my monthly loan payment would be $1,050. taxes are $7100/year, insurance is $1300/year. Rental market is pretty good in the area. Worthy of a first investment to get started?