A Good First Buy?

[Daniel Shadle]

I'm have been looking around for my first deal and I'm thinking about making an offer. The property details are as follows:

Listed Price: $109,000 / Grossing 1300 Monthly

Type: Duplex (3 beds, 2 baths)

Fully Occupied and recently renovated.

I ran my number using 5% for Vacancy, 10% for management, 10% for CapEx, and 9% repairs. I assumed 3.5% down (Owner Occupied with FHA) and 3.8% for interest rate. The counties accessors office listed taxes as $282, I wasn't sure if with a duplex the $282 was for the whole building or per unit. For insurance I estimated $1090 annually. From the pictures it looks like there is no deferred maintenance but I haven't been on site yet. I'm calculating a monthly cash flow of about $250 and if self-managed an extra $130. Its not 2% but its over $100 per door. So now can you tear the deal apart so I can fill in an holes i'm not accounting for?