Advice on out of state investment

[Kenneth Ye]

Hi All,

I have been working with an out of state realtor for the past month for my first investment property in Phoenix. 

A "deal" was brought to her by an investment company that wanted to unload a townhouse "as is". Needs cosmetic updates and new rug according to the pictures. It is 30-40k below market comps. HOA covers everything outside except AC units. Water heater was replaced 2 years and and AC unit was replaced 5 years ago. It will COC 7.5%.

What are some other factors I am missing?