Hey everyone! This property is duplex with an asking of 129,900 and has fresh leases for 1,025 and 1,000 that were signed in July. The tenants pay for water, heat, and electric, and the property itself is managed by a property management company. The person takes 1/3 of rent on the 1st month (when placing new tenants), and then $90/unit after. She handles maintenance, collection, filling vacancies, move-outs, and regular inspections. It sounds like we literally just sit back and collect cash for doing nothing. That rate looks to be pretty reasonable to some of the other prices I've heard of.

After running the numbers, it looks like this property as a monthly cashflow of about 426 and CoC ROI of 14.85% (I wasn't sure if I include her $180 as an additional expense or if I count the Property Management part of the expenses on my report. I just included both since I wasn't really sure). My question is, would I be dumb not to take this? I mean it almost seems too good to be true...I literally just buy the place and I don't have to do anything unless there is a serious issue that needs to be addressed.

Thoughts?