I need another pair of eyes, please, help analyze this deal

[Jerry Evans]

(11 unit complex)

Asking Price: $80k

25% down: 20k

Monthly rent(s):5k

Property tax: $282($3,380, 2015 tax year)

Estimated mortgage: $250 (20 year loan)

Utilities: $425

Vacancy: 10%=  $500

Repairs: 20%= $1000

PM: 10% = $500

Total: ($2957 monthly expenses) $2043 cashflow?

Am I missing anything above?

Please note, this property is located in a C-D neighborhood. As you can tell each unit is going for about $450 a month. There are one bedrooms that are going for as much $650 near this neighborhood, so I feel there is potential for rent increases. Residents pay for their own; Gas water and electric. Also, I fill I have a bit of negotiating power. This property has been on the market since last August.

I requested maintenance expenses, and I am also waiting on an insurance quote. This would be my second investment property and it would also be out of state, Iowa. How can I properly do a better due diligence. In the listing it also stated the monthly expenses are $2,500, I notice my number is a bit higher. Did miss something, or am I over evaluating?

What am I not asking myself?

All feedback and dissecting would be truly appreciated.

Jerry,