Advice on First Deal

[Stephanie D.]

Hi -

I am purchasing my second property, which will be used as an investment. The listing price is $110K, but i am offering $90K. Both units are occupied. The total gross rent is $1500. The tenants pay all utilities excluding water. The estimated property tax is $3700. The net income is estimated at $600 after paying for mortgage and water. The property is listed in a nice neighborhood. The plan is to collect rental income for two yeasr, generate cash flow and purchase bigger primary home.

I would appreciate advice on what I am missing.

Thank you in advance.

Regards,