First multi-family property bought!!

[Bud Evans]

Ok, I don't want this to be long so here it goes.  Ask was 196k, offered 174k, purchased for 179k.  3 tenants already in, one moving out, one changing apartments - downsizing.  Plan - close in September, renovate the empty and ask for an additional $70 from that one, an additional $50 from the one downsizing and remain the same on an efficiency.  Also, a shed in the back houses lawnmowers for a landscaper paying $75 a month.  

Looking for a property manager and have requested quotes from 4 bidders in my area. Have a local bank providing the loan, have my son moving into the lower level so I got an FHA 3.5% loan and the property is valued at 220k. No PMI!! What did I miss? Used the rental calculator and I'll net about $400 a month with a 21% cash on cash value. For landlord insurance - just go to like Allstate?

Thanks,

Excited and scared to death!!