Analyses for my first Buy&Hold

[Oleg Shalumov]

Hello BP members,

I found a following deal and wondering if it make sense to have it as my first Buy&Hold.

It is 2bds, 1bath apartment with the following numbers:

Price $180K

Mortgage after 20% down with 4.5%: $811 monthly 

HOA: $759 monthly

Current Rent: $1,725 monthly

Insurance: $250 yr (optional)

Vacancy: 1month in 2 years

Elect: paid by tenant

CapEx and all external charges covered by HOA fees.

So, Income ($1,725) - Expenses ($811+$759+$20=$1,590) = $135 monthly profit.