Requesting help analyzing my first buy and hold *Duplex*

[Jordan B.]

I have always been interested in real estate since I was a kid. Family members have always had rental properties growing up and I am familiar with the pro's and con's. Recently within the last 6 months I have taken additional steps to educate myself on entering this business venture. I have been reading a lot of books, listing to podcasts and getting to know my farming area better. I am also starting my real estate classes at the end of this month in order to get my license. 

The deal in question is a Duplex and it is currently being rented out. One tenant is month to month and the others lease ends in April 2015. Here are some details

Asking Price: $170,000

Rent Unit 1: $950

Rent Unit 2: $850

Property Taxes: $3,890

Current Cap Rate: 1.05%

Revenues: $21,600

Expenses: $1260

(Trash: $800)

(Sewage: $460)

I will most likely be going with an FHA loan with a co-signer. I am hoping at setting on a $150,000 purchase price and I feel each unit has potential to get $1,000 per month in rent.

Potential Cap Rate would be 1.3%. Tenants pay all utilities except for sewage and trash. I will manage the property myself. 

Is there anything else i may be missing here? thoughts?