First duplex deal - NE Michigan - a good one?

[Drew Denham]

Purchase price - $50K

Estimated Rent $1100

5% vacancy = $55

5% Cap ex = $55

5% Maint. = $55

10% MGT fee = $110

Mortgage = $253, 20 year amortization @ 5% 

Taxes $116 per mo

Insurance $75 per mo 

total = $719 per mo

2% rule = 2.20%

Capex = 15%

CoC = 33% (turn key, est rehab to be $1000-1500 - new appliances, needs a few new doors) , $2000 closing costs, $10,000 down payment)

The duplex does only have 1 furnace and 1 water heater

Monthly cash flow = $381 

Am I missing anything? 

Thanks,