Rookie getting into real estate investing

[Julio De Leon]

My name is Julio De Leon, and I'm from small but growing city called McAllen, TX. I appreciate everyone's contribution to this online community because it is truly a treasure trove of great information. Besides introducing myself I would also like this opportunity to disclose my first attempt at investing. The details of the plan are as follows:

Owner occupied 4 plex, new construction, FHA loan

$290,000 sales price

$11,000  estimate of closing costs

$10,500 down payment @ 3.5%

Income: $ 3,000, fully occupied (including charging myself rent)

Monthly Expenses:

PITI: $1,950

Vacancy reserve: $300

Maintenance reserve; $300

Net cashflow: $450

How does this deal look? Any comments and suggestions are greatly appreciated. Thank you all!