First property multifamily analysis help!!

[Dustin Boggs]

Hello all I'm currently looking at a 4 plex in the hampton roads area of Virginia. Asking price is 200k. The current gross rent is 2550 and will be reduced to 1950 when I occupy one of the units as I will be going the fha route. The property is in an ae flood area so I will need flood insurance. 

When I run the numbers it seems like a decent deal but I am just beginning and feel like I am missing something. With the 50% rule I would have $440 cash flow when I move out and all the units are rented. I also believe I could bump the rent up to around 3000 as 2500 seems very low for the area.

Any help or advice would be greatly appreciated.