Second investment property idea... Good or Bad?

[Frank Inman]

I currently own a duplex in Killeen TX. I got it on a VA Loan while I was deployed, came back from Afghanistan moved in for 3 months and then got reassigned to MD. Bought it for 160,000 and get 800 per side and have a property manager, who gets 8%. Zero down and never put any of my own money into it and using all the profit toward the mortgage.

So on to my question, I just found a duplex in NJ, in a real crappy area for $60,000. Each side has tenants that pay $750 a month. Property taxes are about $2500 a year for both sides combined. Using calculators, it looks like I'd make 1100-1200 a month. Who wouldn't jump on this? I guess I'm kinda surprised because it seems to good to be true. Any advice would be appreciated. 

[Joe Villeneuve]

@Frank Inman First, I want to end what @Judy Parker  said about thanking you for your service. That is something I will never take for granted.

2nd, if by your definition, you say the area as "crappy", and that isn't your desired "Strategy", then what you are describing is what a refer to as a "shiny object of distraction".

3rd, and this is important, stop referring to things as "too good to be true".  It's either a good deal, or a bad deal.  Many great deals are available because it was turned down by too many others who thought it was "too good to be true".

I will add this, which is my tag line on all of my emails, and the title of my next book, 

"The things that come to those who wait, are the things that are left behind, by those that got there first".