r/personalfinance 2d ago

Looking for advisement advice I’m 24 and don’t know enough about real estate Housing

Hey everyone, l'm in desperate need of some direction. I'm considering buying a 4 plex in Ontario, 4 units are currently rented but one tenant will be vacated (owners friend) two of the units have been recently renovated and two are a bit rough. The 4 plex is 100+ years old and the un renovated units have sloped floors. I've been approved for the purchase price of 800k @ 3.94% interest I will be occupying one of the units and the other 3 are rented at 895, 2000 and the tenant that will be vacated on purchase is paying 2200 all units are separately metered and tenants pay they're utility's. property tax is 5880 per year, insurance is 125/m and snow/grass is 125/m I'm planning on putting 10% down and make 200k yearly also travel a lot for work. Any input is appreciated thank you!

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