I am very new to Multifamily investing and currently evaluating a deal that a broker suggested to me. It's a 10-unit multi-family in Waco, TX. Current annual rental income is $108,000, and current annual expenses are $70,000. Even though the property has a lot of potential and units are a few hundred dollars below market price in the area, it still seems like it's not the best deal, especially considering the asking price is $1,450,000, and expenses seem quite high. I just wanted some feedback on what some of you experienced investors might have, and make sure my thought process is not out of line. Thank you.