Help me analyze a deal I'm looking at

[Charline R.]

I've never done a deal like this before. It's really big for me, but if interesting, I could ask other investor to venture with me.

This is a hotel list in my neighbourhood. It has 27 rooms with bath and the property is in very good condition. Only one room hast to be renovated. 

Asking Price : 1,320,000

anual Income: 351000

Expenses:

Insurance: 2891.28

Water: 2321.64

Hydro : 13760.52

Garbage: 1953.96

Taxes: 32870.10

Other: 10036.32

TOTAL: 63833.82

Net Operating Income: $287,166.

[Tim Delaney]

I don't see any labor/staff expense - with 27 rooms I would think there has to be some staff.