Buying 4 apartments. good deal???

[Thomas Brady]

Hey BP, 

Here is a deal on a 4 apartment bundle I am looking at. 

asking price $185,000 (prob can get down to $175,000)  

plus $20 HOA per unit/month that covers any damage to outside of units including roof replacement.

Total monthly rent $2,800 (conservative) $2900-3000 (realistic)

all expenses accounted for (50% rule) and mortgage comes out to $2250 (this includes property management) 

Net profit would be $550

The only set back is that it isn't in the best area.... definitely not a war zone, but probably C or C- 

Any advice on this deal, because the monthly cash flow looks fantastic, I am just unsure about the area variable.