Help me learn - How to spot a BAD DEAL?

[Minka Sha]

I'm trying to learn how to spot a BAD DEAL. 

Property is a Tahoe Park duplex (2BR, 1BA, 1 Garage each unit) near 65th and broadway. 

Even at 100k below the listing price, the monthly cash flow is merely 26 bucks! Can you give example of a GOOD DEAL? I want an example so I can see if there is such a thing still in the market.

FINANCING

List price: 259900

Offer Price $159,900.00

down payment $31,980.00

loan taken $127,920.00

Rate (4.5%)

Periods (30 yr)360

# of Units: 2

INCOME

Monthly Rental $1,700.00

COSTS

mortgage $645.73

insurance (fixed) $83.33

vacancy rate $136.00

taxes $159.90

property mgmt company $170.00

water bill, sewer, garbage $184.00

cost of MY time $75.00

misc big ticket items and city fees $220.00

TOTAL MONTHLY EXPENSES (with mortgage) $1,673.96

TOTAL MONTHLY EXPENSES (without mortgage) $1,028.23

Monthly cash flow (with mortgage) $26.04

Cash on Cash return: 1%

cap rate(mortgage not included): 7.7%