Buy and Hold Analysis in Memphis

[Damian Gutierrez]

Bigger Pockets Community,

I have been working on getting my first deal for about (2) months and I think I finally got something worth purchasing. My goal was to purchase a (B-)/(C+) SFR (3 Bed 2 Bath) with ($150 - $200) in cash flow a month in Memphis TN. I came across a property in Memphis that is an attached SFR that looks like it is in a decent neighborhood. The one thing that is worrying me is it is an attached property which my limit the number of renters looking at the property. However, I think because it is an attached property at a decent price investors have overlooked what looks to be a solid property. I'm hoping this will be my foot in the door. I would appreciate if you all could just take a look at my assumptions regarding insurance, taxes, and repair/capex I am setting aside.

I think this would be a solid first deal with potential for rent increase in a nice area, but it any and all feedback is appreciate.