I'm somewhat uneducated when it comes to rentals, flipping has been my forte' for 15 years, but I'm looking to move into the buy-and-hold type properties. So here's the deal.

 I'm looking at buying a duplex. It's an old government house (many of those in my area), 3 bed, 2 bath, good area. Has ancient HVAC system (that would be replaced at a later date), interiors are good (enough for renters). It has good solid renters. The guy just wants out. What do you guys think?

Assessed value is $172K    Taxes are $2,000/year

Rents are $950 each side (with potential to go up slightly)

Trying to get it for $200k with 15% down ($30k) on a 20/year loan

Payments with insurance, taxes, etc. are about $1,250/month

My thoughts are I would make about $660/month after everything is paid, but I'm sure I am missing something in this equation.

Now, with that said, the value of the house if put on the MLS would probably be in the $230-240k range (today). The area has seen sale prices increase by 20-25% over the last few years (4 years ago I could've bought this same place for around $180k). There aren't REALLY any signs of the market slowing down, but this area does depend a lot on government funding. If the gov't shuts down, it COULD have an impact, though in this rental price range, I am not too worried about it.

So with that said, what are your guys'/gals thoughts?