Someone talk me out of (or into) bying this property.

[James Thierbach]

I'm looking to purchase my first rental property by the end of the year and I've been scoping out out-of-state opportunities (I live in So Cal). I've seen a lot of people mention Toledo for cashflow, so I started looking MF in the area and I found this property:

1338 Brooke Park Drive Toledo, OH 43612 (8 Units - 2 Bed/1 Bath each) $280K

I ran a rental property analysis on BP and filled out (conservatively) everything I knew how to (I don't know the area very well). 

25% down, 30 year 6%, $4K monthly income ($500/unit), $3500 property taxes, $5000 annual insurance (shot in the dark, this is one of the things I have the hardest time estimating), 7% repairs/maintenance, 8% capex, 5% vacancy, 9% property management. I know I probably need to pay water and sewage as well, but honestly have no idea what to put for that. As the numbers stand, I come up with the following return:

$873/mo cashflow, 13.8% CoC ROI, cash needed - $76K.

Those numbers look great to me as a newbie, but seeing as the property has just been sitting on the MLS for the past 4.5 months, I'm assuming it's not a fantastic deal. So I was hoping some of you may be interested in analyzing it with me and we can discuss what makes it a good/bad deal. Thank you.