What's wrong with my analysis?

[John Lee]

I'm just practicing analyzing deal base on what I got from seller information. I have not look at each individual property yet. Can some one give me reason not jumping  in this deal?

Purchase price (from B23)	$1,300,000.00
Purchase Closing costs	$78,000.00
Repairs	$0.00
Holding Costs	$0.00
All Personal Contributions (down payment)	$325,000.00
Total Investment	$1,703,000.00
Total Loan Amount	$1,378,000.00
Number of units	1
Average Rent per unit	$18,504.00
Total Loan Amount	$1,378,000.00
Interest Rate	10.00%
Term Length of Loan ( in Months)	360
Interest Rate per month	0.008333333
Total monthly mortgage payment	$12,092.94
Monthly Insurance	$989.33
Monthly Property Taxes	$1,494.83
Other Monthly Expenses (HOA, Utilities, Maintenance, Etc)	$2,919.25
Total Monthly Expenses (not with mortgage)	$5,403.42
Total Monthly Expenses (with mortgage)	$17,496.35
Other Monthly Income	0
Total Gross Monthly Income (Rent)	$18,504.00
Total Annual Expenses (not mortgage)	$64,841.00
Total Gross (Most Possible) Annual Income	$222,048.00
Net Operating Income ($ left to pay mortgage)	$157,207.00
Cap Rate (for multifamily/commercial)	7.00%
VALUE BASED ON CAP RATE	$2,245,814.29
Cashflow per month	$1,007.65
Annual cashflow average	$12,091.77
All Personal Cash Contributions	$325,000.00
Annual cashflow	$12,091.77
Annual “cash on cash” Return on Investment	3.72%