8 unit building. Looking for 2nd opinions

[Devin A Hanley]

I am currently looking into a 8-unit apartment building. It was built in 2011. The asking price is $600k. It was built as "condos" so there is potential to purchase it as 8 separate mortgages and have a lower interest rate than there would be for a commercial building. 

*Rooms are individually metered for water and electric. Tenants pay utilites  

Gross Rent: $6000

5% Managment fee: $300

5% Cap Ex: $300

Maintenance: $180

Insurance: $200

Vacancy: $60

Taxes: $1670 (Yes, they are that high. Yikes)

P&I: $3220

Cash Flow: $566

These numbers are if purchasing at asking price. If purchased at $575k then it cash flows at $700. As well, the rents can be raised another $25 per room, bringing in another $200 monthly, and still be a fair market price. 

As of now there do not appear to be any upcoming CapEx costs. The building is only 8 years old and is built from brick and concrete. It has been self managed up until now and the owner is retiring. It is currently fully booked. 

I am curious what your opinions are on this and if it seems I am missing something. As of now it cash flows less than I would like, but I do feel that the CapEx funds will be able to stack up well for a while.

Thank you for any input you may have!!