First Rental Property Out of State

[Justin Thomas Sutton]

Hello BP,

My wife and I are looking at buying our first out of state duplex in Indy.  Ideally I think I have my numbers down but would love to talk with someone in more depth about the potential return. (Mainly cause it sounds too good to be true or maybe I am missing a key factor). Any and all feed back is welcome. 

1 Bed 1 Bath Each - 

PP: $25,000 ( Can I even get a 15 or 30 year loan on it at that price point) 

ARV: $30,000 (Can go up by about 5-10k I believe after 2nd unit is renovated)

Repairs: $500 ( The second unit needs to be renovated but is currently occupied)

ALL MONTHLY EXPENSES:  $664.77 (Based on 15 year)

Unit 1: $600 (Renovated side)

Unit 2: $400 (Unrenovated) 

Monthly Cash Flow: $335.23

CASH IN: $6,500

Cash On Cash ROI: 61.89%

If I am missing something please ask me because I may have just left it out on accident or never even thought of it at all.

Thanks BP!