Analysis on a duplex - first time investor, help!

[David Meister]

Hi all! I'm new to the forums but have been a long time BP podcast listener. I've been researching for about a year, reading, etc and have decided to make the leap (yikes)! A realtor and long-time friend of mine is looking to invest with me on a duplex we've located. I'm hoping someone can double check my numbers. My goal for this property is to use it as a buy-hold for cash flow. Purchase price = $140k (deal includes them putting in 2% of closing costs, ~$2800) Taxes = $1218/yr No HOA Insurance = $85/mo Putting 20% down = $112k financed over 30yrs Each unit is currently rented for $800 and $775. I would be bringing them both up to $800 for a total of $1600/mo income. P&I = $671.50 I'm also making the following assumptions: Vacancy = 5% Repairs = 7% Capx = 10% This is giving me a total positive cash flow of $440.76/mo We also plan on self-managing the two units. So, investors who have been down this road, am I missing anything critical? Anything I should be concerned with in a deal like this? Our offer has been accepted so it's just about time for me to send in a deposit. I'm nervous as heck and would love some feedback. Thanks for reading!