First Rental: Is it worth it?

[Tarvis Carson]

Hello everyone,

I'm 23 years old and my friend and I are looking in to buying our first rental property. We found a duplex that is listed for $200k and is 2100 sq/f. The property is outdated inside it is from 2007, it currently rents out for $855 a unit. We would like to update the flooring, paint, kitchen counter tops, and bathrooms; we are not sure how much this would cost yet. We are using the VA home loan so we are not required to pay a down payment.

Estimate monthly mortgage+taxes+insurance will be $1400.

Rental income $855x2= $1710

Total cash flow of $310

We are leaning towards a duplex instead of single family home because we think it will be a better cash flow. Is this property worth it number wise? or can we do better. Thank you.