First deal

[Shaun Carl]

Hey guys, I am new to here and have been reading a ton getting ready to jump in. Was wondering what you guys thought about a potential deal.

House is in south buffalo where many properties are going for around 30-50k depending on what needs to be done. Most rents are 400-600 per unit

Place I am looking at:
2 unit: asking 33k, was recently updated so will not need any major repairs that I can tell without an inspection.
Unit 1: current tenant is sect 8 with gov paying 450/m
Unit 2: regular tenant paying 475

So total is 925

Using the 50% rule it should cash flow a little over 100$ per unit.

Can I get a regular loan for this from the bank? Is there a minimum?
Anyone have any experience with section 8 tenants?

I do not want to drop all my cash into it if I can find others similar in the same area.
Seems like a good cheaper deal for my first, but again I am new to this.

Thanks!!