First Deal Analysis

[Jason Rodgers]

Hello,

I am new to biggerpockets but have been browsing the website for a couple months! I've finally decided to leap right into the Buy & Hold market and I am looking for a little help.

Background-

I am enterting into my first real estate deal and am looking for a helping hand to guide me in the right direction. I've calculated out what I believe that numbers should be. Based on my calculations it looks like a good deal but it is always good to have someone else look at the numbers!

Currently I have under contract a duplex that is listed at 199890

Offer Price 180,000 accepted!!

I am doing an FHA loan so i will be putting down 3.5% (6300)

My monthly mortgage based on my excel spreadsheet shows me at about $1510 including PMI

Monthly Rents: 1250 each unit; total 2500

Expenses (Estimate) - Monthly

Property Taxes:492

Insurance: 75

Vacancy:100 

Repairs & Maintenance: 100

Cap Ex: 70

Property Management: 125

Total Expenses:887

Cashflow (based on pure numbers) - 569

Cashflow (Gross Rent-Expenses-PITI)

Does this look like a good deal!! I feel like I am missing something

Thank you in advance for your help!