Is a Duplex a good investment If I dont Live in it?

[Kelvin Silva]

I am looking at a real estate listing at a duplex whose listing price is 64k (4bed, 2 bath). This is in the midwest area.

The listing says that the duplex is occupied with two tenants who are interested in staying for the long term, and have a consistent payment history.

I haven't gotten much information, but I'd say for the area, each tenant is paying 800 dollars per month.

Now I am 21, and I have about 20k in the bank, and im willing to spend 15k for a down payment. I can't qualify for FHA loan because I don't plan to live in that house.

A monthly mortgage payment should be 300$ per month for 30 year. If i get around 1000 net cash flow, this will pay off in about a year (from my initial down payment). 

After the year I plan on keeping things as is, so that net cash flow can mitigate any rental expense that I myself incur (i pay 525 mo for a 1 bed apartment).

Do you guys think its a good idea to get a source of passive income in the midwest (where I currently work), to offset my rental expense, and future rental expense if i ever decide to move to a more expensive area?

What are some things to watch out for, because I am still very new to this. Why would someone put up a duplex for sale if it is cash flow positive? The listing says that some rehab is needed but optional (like adding a garage, or putting central air), and has been inspected 2 years ago.

Let me know what you guys think, as I'm pretty excited to drop my money for this opportunity. It almost seems too good to be true especially since the "hard work" has been done because tenants already reside.