About to close on my first out of state duplex - Questions...

[Ben Nitka]

I'm about to close on my first out of state rental property in Akron, Ohio and I figured this was a good time to poll the forum for advice. Everything looks good so far but I have a couple questions that I'm sure could be answered by experience that I don't yet have. 

I'll get straight to it: 

Property Details:

Ranch style duplex, 1800 sqft, 7500 sqft lot
Built in 1960
Both tenants are staying and have been there since 2017 (month to month now) 
Roof, furnaces, hot water tanks, central air, and waterproofed basement in 2014

It will be bringing in about $180 a month in net cash flow (after paying a property manager, taxes, insurance etc.). I plan to hold it long term and increase rent and property value over time on pace with the market. 

My question is - do any of the following things concern you all, or are they things common to a 60 year old rental property that can be left as is, at least until I have a tenant move out?

1. No attic access - my inspector was unable to access the attic, it's a "finished area" and I got no other information. Immediately, my thoughts are that there could be any amount of damage in there that was covered when they fixed up the house. But, it's been rented out for years without issue and I'm content to leave well enough alone (with a little encouragement from this forum). 

2. Moisture readings present 

Sort of scary, but looks minor to my *untrained* eye. Also, the basement has been waterproofed by the previous owner. Do I bother to address it while tenants are there?

3. Property management - the person I spoke to comes highly recommended, and sounds great, but also seems expensive. For an already-rented property with few repair issues in sight, should I find a cheaper option for management? His rate is 10% (standard), with a 20% surcharge on repairs (ok), and a full month's rent for replacing a tenant (seems expensive).

Any advice is appreciated - I feel comfortable accepting the risk that these things bring but I wanted to ask more experienced investors on the forum for their 2¢. 

Thanks!

[Tchaka Owen]

@Ben Nitka - everything @Randall Alan wrote is on point! Let me add 2 more things for you to think about:

1. I learned from experienced investors that the absolute minimum acceptable on a door is $100. The $540 net that Randall is getting is very good, most are getting $200+ per door. At $180, you're making $90 per door. So this deal wouldn't cut it.

2. Dayton, like many other Midwestern cities banks more on cashflow as opposed to appreciation. How are you at $90 per door? Either rents are well below market or you are paying more than the place is worth. It's one of the other. 

A mistake that newbies tend to make is to try hard to make a deal work because you want that first deal so badly. I'd walk away from this deal and look for more. If your agent isn't doing his/her job, move to the next. 

Good luck!